FX:GBPJPY   British Pound/Japanese Yen
46 0 4
Not long back in and seen todays             move. I have very wide stops so all my short positions are still in place.
I had red support/resistance lines placed on previous charts, this one has been cleaned following todays             move but i have left those lines in place, i have made bold the most recent test at the 141.91, should it retest this and break through and then up to the 142.9 area i will be closing all my shorts.
I've been fortunate with this pair over the last year or so and have done very well.
That said, i'am looking for a deep pullback from this spike high, at least down to the 140.2 area and i'll again review this trade at that point.
As i've said before, it's not called the widow maker for nothing.
Control your risk.
Trade active: Good to see that the red upper resistance line which i'd placed at 141.91 has indeed proved to be the case.
With a sharp move to the downside, are we going to see a continuation when the market opens on Sunday evening?
Another point to consider are we seeing a double / triple bottom, which shows high lows on the hourly.
I'm now looking for 139.48 to hold as resistance, if this does happen then i see more downside.
My stop is sitting at 144.20 and i'll leave that there for now.
Overall targets remain the same.
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