The world as we know it is coming to an end in a few years time, between 2017 - 2020 to be more precise according to top forecasters and analysts. JPY will most likely be the second currency to collapse, after EUR. Already EUR have begun to crack and will soon resume its downward trend against the US which will be the 3rd currency to collapse. 2016-2017 is the setup year and its clear all over the charts for anyone who truly understands the world economy.
On the chart above I am expecting GBP/JPY to gain further momentum to the downside as leg nr 2 is bigger than leg nr 1, after a pullback that is. I am looking to potentially add positions to my already short order once price pulls back to the secondary support curve (R2), but only is there is a clear reaction and/or indication to do so. If not and price continuous up to the Primary R1 Curve which will be a much better price to go short- obviously, any indication that the curve will contain and hold price - will be a great time to go short as price will most likely than not reach current lows after a pullback have taken place.
On the chart above I am expecting GBP/JPY to gain further momentum to the downside as leg nr 2 is bigger than leg nr 1, after a pullback that is. I am looking to potentially add positions to my already short order once price pulls back to the secondary support curve (R2), but only is there is a clear reaction and/or indication to do so. If not and price continuous up to the Primary R1 Curve which will be a much better price to go short- obviously, any indication that the curve will contain and hold price - will be a great time to go short as price will most likely than not reach current lows after a pullback have taken place.