A breakdown in momentum for GBP/JPY, Retracement?

FX:GBPJPY   British Pound / Japanese Yen
After a few bullish weeks for the pound it’s started to loose momentum, I would be incredibly careful trading this pair currently, however there is a good RR to have. Focus on any brexit news and keep a close eye on the trade.


A rather successful setup. GJ pulled down to the demand zone outlined in the green box. I shorted down to this zone then longed it. Overall gain on this setup was 5.4%. Whilst only risking 2% in total.
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