Bonkers
Short

GBPJPY POTENTIAL RESISTANCE AND BEARISH BAT PATTERN

FX:GBPJPY   British Pound / Japanese Yen
If the pair pulls back to the 162 area there could be a potential opportunity for a short.

Reasons to short -

Larger trend is bearish
Possible completion of a bearish bat pattern
Returning to a major SR level (blue line)
The previous time it was at this level there was a strong sell off, and it is the first time it could return to this area (yellow box)
A confluence of fibonacci levels from previous highs (inside the yellow box)
Good risk to reward ratio
Very nice in depth analysis, thank you. Lets wait and see how it pans out.
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