GJ's Rise Is Rounding

Jan 6

GBPJPY has formed a Rounding Top after making a Breakout of the Resistance level.

Price is currently trading back in the Resistance Level and is looking to potentially make a Bearish Break back down in the the Consolidation.

Once Price breaks back down below the Resistance level, this will generate Short Opportunities to take price down to the next Support Zone.

Jan 6

Trade active

Price found Support at the bottom of the Rounding Top and turned into an Inverse Cup and Handle Pattern with the retracement to the 50% Fibonacci Level @ 211.73

Short Entry @ 211.73
SL @ 211.83
TP @ TBD

Jan 8

Trade closed: target reached