SKACAPITAL
Short

GBPJPY SKA CAPITAL OUTLOOK

FX:GBPJPY   British Pound/Japanese Yen
As you could see outlined on the chart we believe this pair is looking bearish to possible targets of 136.500 then possibly 134.00. There are several ways this trade setup could be undertaken. You can either wait for a breakout and retest of the lower trend line with bearish candlestick confirmation. However, we would be entering this trade around 140.30. Stops could be placed just above the upper descending trend line or above the previous highest high (Above 143.500). If price breaks above the pattern then this trade setup is no longer valid.

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