We have been expecting the GBP/JPY to drop to 14800 for about 3 months. At the moment we have witnessed a pull back in the long term trend which gives us a great opportunity to add further positions. There is strong resistance at 15800 so the stop loss just above this is a good place. I am hoping the 9:30am Manufacturing figure will give the GBP an opportunity to rally to the entry level. Learn to trade for free and get access to the live trading webinar bankonadam.com