EverythingForex

EOM Update: GBPJPY - Falling again!

FX:GBPJPY   British Pound/Japanese Yen
501 0 14
A week ago, I updated my analysis on this pair (see this post: "UPDATE: ANALYSIS: GBPJPY             - Change In Wave Count. Still Bearish") and I suggested that there was more downside to go in this pair.

This was the chart from that post:
UPDATE: ANALYSIS: GBPJPY - Change In Wave Count. Still Bearish

Looking at the main chart above, you can see what happened. From that chart I posted to now, prices dropped again just as predicted.

On March 29th, I posted a SHORT trade for this pair on my site to my members to SELL@162.127. Shortly after that trade suggestion, prices just DROPPED again! I closed out that trade @158.870 for a total banked pips of +873 pips. Why did I close it out? Because I am expecting a retrace. And not knowing how large that retrace will be, I decided to just bank the pips and wait for another chance to to sell for a further drop as per my chart.

If I were to miss the continuation of the drop, I would wait for prices to break the support structure that is currently holding prices up, go down some and retrace back up to it in a support turned resistance price action to sell again.

My subscribers got this trade as well as several others in GBPJPY             this past month that racked up over +1900 pips and over $19,600 in profit this past month alone! Did you get those results? If you didn't, you could have. Just by subscribing. Want more analysis and trade ideas on this and other pairs? Simple. Go here to subscribe now and don't miss the next great trade! Go to: http://goo.gl/qRNGsF

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