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KaltoireCapital

800+ PIPS TP hit in GBP/JPY, how to trade it now?

British Pound / Japanese Yen (FX:GBPJPY)  
KaltoireCapital  
FX:GBPJPY   British Pound / Japanese Yen
Trend Analysis Chart Patterns Beyond Technical Analysis GBPJPY gbpjpyshort gbpjpyanalysis gbpjpyprediction gbpjpyforecast gbpjpylong
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trendanalysis chartpattern beyondta gbpjpy gbpjpyshort gbpjpyanalysis gbpjpyprediction gbpjpyforecast gbpjpylong
Dear traders, if you have been following my updates you already know that we have been
selling GBP/JPY since the price hit 168.40 and we have secured 800 pips profit when price dropped to 160.

Since then, GBP/JPY has retraced quite strongly after hitting the 100-day EMA at 160.
Currently, GBP/JPY is in a tricky area and it is a little difficult to anticipate the next move.

That being said, 166 is a minor resistance level and I might try a small sell only if bearish price
action happens at 166.
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