jonjamesfx
Short

GJ short, the start of a new bearish run?

FX:GBPJPY   British Pound / Japanese Yen
We’ve seen a 100 pip consolidation range for the majority of this week, price broke the bullish trend line mid-august dropping down to 140.00. We’ve seen a retest of the bottom side of that trend line over the course of this week which is the 142.50 mark (its held firm) we are now also seeing the start of a new bearish trend line created from the last 147.50 hit which again touches around the 142.50. 55 day and 110 day ema’s sitting just above 142.50 as resistance. Is this now the beginning of a bearish run for GJ?
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