FX:GBPJPY   British Pound / Japanese Yen
0
Hello traders,
We are looking at a multiple setup for a SELL call on the pair though it is against the current trend. First of all, it has moved a tremendous 800 pips on the daily time frame without a minimum retracement, on the 4 hr , it has completed the target for the rectangle pattern and there is a bearish wedge in play.
Please take a look at the video attached below to see further explanation to how i think this setup could pan out.
Aggressive entry:
SELL GBP/JPY @ 188.10
S/L @ 188.70-80
T/P @ 181.60
Conservative entry:
SELL @ 186.00
S/L @ 187.45
T/P @ 181.60

Link to the video : http://youtu.be/cERqDTZ_2ww

Happy trading and Happy Pippin!