KVE
Short

GBP/JPY: Possible bearish bat

FX:GBPJPY   British Pound / Japanese Yen
66 0 6
Possible bearish bat could get us to the trendline below and possibly further down to a possible S/R zone.

It's possible that we will see some ranging PA between 2 possible S/R zones.
Advantage would be the fact that we can add a third target to the short trade, in the hopes that the possible support zone below acts as a magnet for PA.
Disadvantage is that SL needs to be wide enough so that it is above that possible resistance zone above.

I would consider placing SL above 189 round level but R/R would be poorer of course.
I might add shorts at that upper S/R zone after confirmation.

For more certainty one could consider not trading the bat but only a possible bounce off that upper S/R zone.

Possible targets as in the chart:
- TP1: 38.2% of possible bat CD
- TP2: 61.8% of possible bat CD
- TP3: just above the possible S/R zone below
Comment: TP1 and TP2 reached, letting it ride for TP3.
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