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Dec 21, 2015 5:33 PM

GBP/JPY - SHORT FOR 500 PIPS Short

British Pound/Japanese YenFXCM

Description

We can see on this pair we are now in a downtrend as we can see the Lower Lows and Lower Highs.
Price made a Double Top formation back in June - August and that Neckline can be copied to project a target.
We have seen a 50% Fibonacci bounce.
200 EMA & 50EMA Crossover.
Break & Retest of Monthly Support at 180.46 on H1 Timeframe.
Target 1 is below Fib D1 at Monthly Support at 175.22.
Potential RR of 1:11 if entered correctly.
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