For this trade I will be looking to short the Pound Yen. I would like to see the price up a bit before entering short. If I see a bearish engulfing candle at any point in the current uptrend I will consider entering there however I would need to see the RSI showing signs of reversal.
The latest candle was very close to engulfing the previous up candle. If the next candle closes low with strength I will enter. If the next candle has a weak close I will wait for better entry.