GBPJPY to extend retracement

FX:GBPJPY   British Pound / Japanese Yen
135 1 3
From the upward trend over the past month, the price action has broken below the 23.6% retracement level. The price action also seems to be adhering to a downward wedge . If the price breaks out of this shape n the downward direction, expect a bearish move, which could extend to the 38.2% retracement level which is almost perfectly aligned with the second daily support level (traditional).

The Relative Strength Index has also fallen below the 50 mark, confirming a possible downtrend. If then price action continues to break through the Fibonacci retracement levels, this indicates a downward trend forming. Monday morning will also see the Mortgage Approvals, money supply and net lending to individuals data releases for the UK. Lower than expected readings will put bearish pressure on the pair.
I can't really say anything, cause I do not use the same method that you do. My advice to you is to try something else, study the markets more, but this sounds smug and it will be perceived differently than it should.
Also, you can't have two different ideas on the same instrument, at the same time. Either you are short, long, or neutral. You can't be long and short
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