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Forexcues

GBP/JPY - downside movement is possible

Short
British Pound / Japanese Yen (FX:GBPJPY)  
Forexcues  
FX:GBPJPY   British Pound / Japanese Yen
Fibonacci Support and Resistance Trend Lines GBPJPY gbpjpyshort gbpjpyanalysis gbpjpyforecast gbpjpyprediction gbpjpysell gbpjpyidea gbpjpysignal gbpjpydaily
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fibonacci supportandresistance trendline gbpjpy gbpjpyshort gbpjpyanalysis gbpjpyforecast gbpjpyprediction gbpjpysell gbpjpyidea gbpjpysignal gbpjpydaily
Hello guys!
If we analyze H4 chart then we can see that GBPJPY created nice downside channel and try to go down. In my opinion, it will start to go downward from starting 159.890.
We can open SELL orders or use SELL STOP orders also.

Possible targets are:
1. 158.730
2. 156.720
3. 153.330

Stop Loss is important also. It can be here - 162.750
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