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carajeevthakur

Short GBPJPY near 141.40 for TGT 136 SL 142.00

Short
British Pound / Japanese Yen (FX:GBPJPY)  
carajeevthakur Updated   
FX:GBPJPY   British Pound / Japanese Yen
Chart Patterns
5
0
chartpattern
Triangle formation on H8. If price moves up to 141.40, it may result in fake break out of triangle and that will be evident from price action only on H4 or H2. If it happens then short with SL 142.00 for tgt of 136.00. RRR of 8 to 9. I guess excellent short set up is in play on GBPJPY for tgt of 136.00. I will wait for the triangle to break out on upside and then wait for reversal signal on H2 or H4.
Comment:
Also, Bearish Bat has completed on H12 and clear downside tgt at 38.2% retracement of AD is 135.80.
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