FX:GBPJPY British Pound/Japanese Yen
If this trade takes it will present a very nice risk reward ratio... As shown on the chart there are two likely scenarios. One of which would be the pair finding resistance at its current level of 118.060 and selling off to previous support. The other would be a small additional rally all the way to the top of the of around 118.500 where the sell off would then follow. The second of the two would present an even better risk reward ratio, but even the first scenario presents a very nice risk reward ratio.