ApexFX_

GBPJPY - Potential sells now on

Short
FX:GBPJPY   British Pound / Japanese Yen
GJ has been pushing all week but has now started to show some stalling as it has reached a nice level of structure.

We can see this smaller 1hr time frame that the bullish trend has now broken also. Let's ride this down.

Comments

True it has reached a nice level of resistance and looks to go down, but price is above the 200 MA and so we can't be hasty with our decision, there is a possibility of a false break out. Once a bearish indication has been formed we can short the pair
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ApexFX_ akpanhappiness11
@akpanhappiness11, I understand why you'd do that but that's not how I trade. As soon as the analysis is there I go. Caught a lovely 55 pips on that drop down took TP1 and left one position open, pushed back up but now back in profit.
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