GBPJPY - Possible Downward Continuation
Updated
I am watching this zone for a possible return to the long term prevailing downside. Negative news for Brexit over the W/E could provide further downside. Also we see a test of a shorter term resistance inside of a downward H1 and H4 Channel. This morning we saw a small move during Asia markets breaking out of a 15 minute continuation pattern (pennant) to the upside.
I have opened a 0.02 pos. size to monitor the idea with a reasonably tight stop.
I have opened a 0.02 pos. size to monitor the idea with a reasonably tight stop.
Note
Channel has broken to the upside, trade idea invalidated
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