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FahimLatif

GBPJPY clean structure breakout

Short
British Pound / Japanese Yen (FX:GBPJPY)  
FahimLatif  
FX:GBPJPY   British Pound / Japanese Yen
Trend Analysis Chart Patterns Wave Analysis GBP pound jpy japaneseyen breakout pullback
2
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trendanalysis chartpattern waveanalysis gbp pound jpy japaneseyen breakout pullback
Pair has broken the trendline on the 4th touch and has completed a pullback to the trendline. At the same time on the daily chart we can see the pair has lost bullish momentum so we might see a drop coming very soon.

If we zoom out we will see the pair has recently touched the upper trend line of a major weekly bearish trend so I support the bearish scenario.
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