informedtrades

Double Top Forming on GBPJPY

FX:GBPJPY   British Pound / Japanese Yen
49 0 0
I got long at 168.54, based on the price action at the daily chart . A double top is now clearly forming, and so I'm taking half off here. The stop on my existing order is at breakeven, so no risk is left on the table.

I'm still very bullish on yen pairs, because of the disastrous fundamentals I see in the Japanese economy. So, my existing GBPJPY             position is targeting around 1.90 -- about 2,000 pips away. I'll be looking to add and pyramid into this trend.
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