GBPJPY - Catch This Final Wave Before The MAJOR Short! 🔥

GBPJPY has been in a steady climb since April 2020. Due to BOJ's monetary policy, we've seen JPY fall to its death. However, there's increasing pressure on BOJ to abandon their YCC policy and we may see that happen very soon.

In the meantime, we can take advantage of the bleeding YEN by buying GBPJPY once more. We are at the absolute end of the bullish wave so we must be cautious when entering Longs.

Trade idea:
- Watch for price to stay somewhat above the blue structure
- Watch for the break of red trendline for entry
- Stops below blue structure
- Targets: 172 (660pips), 178 (1200pips)

Once we see this move up, we'll be looking for reversal patterns to get in on the short at the very top.

Goodluck and as always, trade safe!

Comment:

GBPJPY 4H - Entry on red trendline break. Stops below the blue structure