courtwann

Up-trend retracement due - Sell opportunity

Short
CAPITALCOM:GBPJPY   British Pound / Japanese Yen
Strong up-trend due for reversal/retracement into the 0.618 - 0.382 fib zones or the 89 - 200 EMA
The Yen is also over sold, which can add to seller appetite.

Confluence:
BOS on Daily TF results in retrace
RSI over bought
EMA's fanned on lower time frames

Entry 172.100 - 172.900
 SL 172.200
Move stop to entry once price reaches 171.300

TP 1 - 169.516
TP 2 - 165.888
TP 3 - 164.150
TP 4 - 162.474
Buying opportunities are at either of these TP levels

Alternative Sell entries could be 174. 676 or 177.479


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