IvanLabrie

GBPJPY: Waiting for the perfect short

Short
FX:GBPJPY   British Pound / Japanese Yen
As the title describes, I'll publish a suggested short entry once my setup confirms.
For the time being observe the price action and how the selling is outweighing the buying on each swing.
This is inherently bearish , and to make things worse for the bulls, Tim West's proprietary indicator RgMov is plotting new lows and a strong downtrend on the daily chart , ahead of price which is currently ranging. The weekly chart shows intense coiling, which will eventually lead to an explosive move to the down side.
I'll update the chart with entry, exit and stop loss values once it confirms.
Cheers,
Ivan.

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