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MoolahMaker

GBP/JPY - 300 Pips+ Long Term Short Opportunity

Short
British Pound / Japanese Yen (FX:GBPJPY)  
MoolahMaker Updated   
FX:GBPJPY   British Pound / Japanese Yen
Support and Resistance Chart Patterns Technical Indicators GBPJPY gbpjpyshort gbpjpy_outlook gbpjpydaily gbpjpyanalysis gbpjpyprediction gbpjpyforecast gbpjpytrade
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supportandresistance chartpattern indicator gbpjpy gbpjpyshort gbpjpy_outlook gbpjpydaily gbpjpyanalysis gbpjpyprediction gbpjpyforecast gbpjpytrade
GBP/JPY showed first signs of important weakness. It has moved down under all the ema's on the hourly chart to make it an important movement and could very potentially be a trend continuation pattern.

If it does not hold support at it's current level, then I expect it to go down about 300 pips and more in the long term.

Always trade after your own analysis as well as risk/money manage properly.

Happy trading and wish you the best!
Comment:
New SL: 147.35

The loss of GBP/JPY happened sooner than supposed. I guess because of some important news this week. Now the price has rallied back up but I expect it to lose back value sooner or later as well as balance and consolidate itself for it's next move down.

Tomorrow will determine what's next.
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