khalilmcmillan

GBPJPY- Banking on a Retracement

Long
FOREXCOM:GBPJPY   British Pound / Japanese Yen
GJ has paused its uptrend at a supply zone found on the H1 timeframe. Because of the strong push, crossing of the EMA and SMA, potential double top formation, and a recent break of the previous low, I believe we will be able to see the pair continuing down and wicking to the 61.8% retracement level.

If this next H1 candle closes below 144.339, I would short the pair to TP just before the golden price reversal zone.
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