Once the pair breaks the neckline, I will short it at 141.5. Double top, 4h rsi divergence, it could be a good opportunity to short, however the risk reward is not that pretty, but who cares.
Once again this week I long this pair first with a small position. If price action breaks the low of last friday, I will short this pair with 5 times the lot of my long position to make profit for the week.
Long: 140.13, sl 139.6 tp 142.05, adding more position if it breaks 141.1
Short: 139.6, tp 139.03, sl tbd.
Not a trade signal but an idea for this week only,...
GBPJPY once again reaching an interesting point for the week, my long setup would be at the weekly 50% retrace, target 143.7 to be safe and sl at the low of the week.
However if price breaks 141.7, then the direction would be short imo. For that I would use triple the size of my long to make profit for the week since there ain't too much "free" pips.
Long:...
Since the price broke above the trendline, we should see a short term reversal of this pair. The overall is still bearish, you can wait till it hits my target zone then short, I've made an aggressive move on this.
