FX:GBPJPY   British Pound / Japanese Yen
GBPJPY has retraced to a 30 minute supply area.

The newly established 30 minute downtrend and the broken uptrend (red trendline) indicates that the higher timeframe's (8hr, originally from a 2 day chart) gray supply area is holding and that sellers are pushing down from this area. Hopefully we can get a small bounce for a 1:1 Risk:Reward, as indicated on the chart.

Remember to trade with the probabilities. No single trade determines our performance, we will all have a loser once in a while.

Take care,
TheSupportResistanceTrader
Trade active
Trade closed: stop reached: Had a small reaction, but only reached about 75% of our target.

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