GBP - Sentiment is not good, but a retracement is on!

FX:GBPJPY   British Pound/Japanese Yen
104 1 2
GBPJPY             took a bit of a hammering towards the end of last week due to some disapointing econmic data and I feel that this will weight on other GBP pairs. However the Yen (JPY) is weak and this instrument is oversold shown by the Stochastic indicator. A nice chanel has formed on the top and I feel a bounce aroud the lower trendline for a mid way retracement is due. I'm long with stopsunder the lower trend line , I will split my trades to take profit at the half way move and then move my stoploss up to the mid point if it continues tomake another Higher high.
For further analysis on charts, trade setups and education please sign up to my website to find out about some exciting courses that I will be teaching, at www.ejfxtrading.com

Related Ideas

EvanJones PRO
a year ago
Note: my landing page for future releases and exciting trading oppurtunities which is due to be released next year! www.ejfxtrading.com
Ideas Scripts Chart
United States
United Kingdom
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out