Raz1

Is the GBPJPY in a downtrend and should I short?

FX_IDC:GBPJPY   POUND STERLING / YEN
With the Japanese Yen             looking very strong right now and the GBP looking bearish you can see a downtrend has formed in the GBPJPY             weekly chart. Right now it seems as if it is in phase two of the downtrend cycle.

I personally would be wary about the fundamentals, as some news are to be released related to JPY and GBP throughout this week. I would look to short GBPJPY             following the trend on phase 1.
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