FX:GBPJPY   British Pound/Japanese Yen
93 0 2
PRICE HAS BEEN ON AN UP TREND FOR SOME TIME NOW ON THE WEEKLY TIME FRAME.
IT IS NOW IN A DOWNTREND (POSSIBLE SHORT TERM) AS SHOWN IN THE CHANNEL.

IT IS NOW PRACTICALLY ON THE THIRD TOUCH OF THE TRENDLINE OR IT COULD BREAK OUT TO THE UPSIDE. SO AS ITS BEEN ON A UPTREND FOR A WHILE MY BIAS IS, ITS NOW RESTING AND MY DOWNSIDE TARGET OVERALL IS 1.68 WHICH IS IN CONFLUENCE WITH WEEKLY SUPPORT AND ALSO A UPWARD TRENDLINE I DREW ON THE WEEKLY TIME FRAME.

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