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British Pound / Japanese Yen

GBPJPY

By karim7
Updated
AS you could see the outlined on the chart we believe this pair is looking bearish to possible targets of 136.500 then possibly 134.400.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, i would be entering this trade around 140.30 stops could be placed just above the upper descending trend line or above the previous high (143.499.) if prices breaks above the pattern then this trade setup is no longer valid.
Trade closed: target reached
i actually left this till now. been 1 month in this trade. closed with some good money!
karim7

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