Further downside potential exists.

FX:GBPJPY   British Pound / Japanese Yen
42 0 0
15 days ago i posted the short trade set up in GBPJPY             .Although short was preferred below the trendline ,lack of strong momentum kept me form shorting it again below trendline .But from technical perspective,this trade looks too compelling now. I'm not taking a trade now because I already have made enough pips for the month.A good trader should know when to stop trading.Also lack of liquidity during rest of this month can be problematic.So if anyone wants to trade during this time,this pair looks too good to pass.But,trade size should be reduced to at least one third of your normal trade size.When I take a trade,I'll post the update here.
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