GBPJPY SHORT CONTINUATION

Earlier this week we saw GBPJPY trading around the level of 183.900 where price created a resistance level. Price began to consolidate between the levels of 183.900 (Resistance) and 182.860 (Support). Once price broke the support level of 182.860 we waited for a retest of that broken area, where we then got a confirmation for a bearish pattern. Now looking at where we currently are we can see that price broke and close below a strong support. We can wait for a retest of that level to continue going further down.

3 out of 4 successful GBPJPY shorts so far this week. If price should continue in our favor we will hit our 4th successful trade.

Please share your own opinion and ideas of what you think, if you agree or not. All opinions are welcome.

Trade active:

Trade is active and already running 30+ pips in profit. Good luck everyone.

Comment:

Price has retraced to our broken support level which will become a resistance level. If price is rejected at this level we can look for a continuation to the downside.

Please keep in mind that there will be GBP news in a couple hours, so trade with proper risk management.


Also please feel free to share your own opinions on what you think.