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Trader856

SELL - GBPJPY POTENTIAL SHORT ( BREAKOUT AND RETEST OCCURED)

Short
British Pound / Japanese Yen (FOREXCOM:GBPJPY)  
Trader856 Updated   
FOREXCOM:GBPJPY   British Pound / Japanese Yen
Trend Analysis Harmonic Patterns Chart Patterns support supply_and_demand swingtrading breakouttrading retest-structure
5
0
trendanalysis harmonicpatterns chartpattern support supply_and_demand swingtrading breakouttrading retest-structure
Evidently GBPJPY has broken the channel that formed. The channel was then subsequently retested and rejected from successfully; for this reason, I believe a short from the current price to the 4 hour support level would be highly probable. More importantly, confirmation of this bearish bias can be seen on the daily time frame, where a rejection from a key price resistance level has presented itself.

*NOT FINANCIAL ADVICE, MERELY AN OPINION.*
Trade closed: target reached
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