GBPJPY Rising Wedge - Potential Short Opportunity

Short

British Pound / Japanese Yen (FX:GBPJPY)

Updated

FX:GBPJPY British Pound / Japanese Yen

Here we have a simple analysis of GBPJPY on the daily timeframe. I'll be watching and waiting for price to break and close below the rising trendline (expecting price to drop). However, price may test and break the upper resistance level and continue up. Keep this on your radar :-)

Trade active:

Clean break with a retest and rejection off the rising trendline. Expecting price to continue down to the next level of support (around 139.00) followed by a drop down to 136.00

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