2ndSkiesForex
Short

GBPJPY Quadruple Top + Potential Range Break & Heavy Selling

FX:GBPJPY   British Pound/Japanese Yen
174 5 4
The GBPJPY             failed 4x to take out the key 151.30 level, selling off over 120 pips since. The recent break below the 20ema produced a weak pullback to the 20ema which was quickly sold. It is now threatening to break the range and open up a lot of potential downside.
there is an upward divergence on 15 minute chart. I believe we are going back up again.
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Certainly a possibility as its building some steam short term. If so, I'll consider selling around 150.66 or 151.30 again for another range play
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First Target just hit for +75
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Final target of +190 pips hit early in London session. Which ironically produced a very strong bounce post BOE
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