The GBP/JPY sets up a nice shorting opportunity after breaking a bearish wedge on the daily chart. The price made the pullback to the lower wedge trend line and is currently forming a Shooting Star pattern. This could be the beginning of a new impulsive move downwards. For more confirmation, traders should wait for todays candle to close and ideally for the candle on the next day to close below todays close, while not forming a higher high. This will ultimately confirm the pattern.
