GBP/JPY ABCD Pattern - JPY to continue to strengthen.
Updated
Ever since the 
DXY on the 1 hour chart had broken the 200 SMA, I've been trading short JPY. As expected, GBP/JPY has fallen, and now the expected retrace is happening.
I expect price to rise to 185.00 and then for JPY to continue its march forward.
NOTES:
- JPY strengthening
- USD weakening
- Whole Number (185)
- Approaching 200 SMA
- Previous area of support.
Good luck from the land downunder.
DXY on the 1 hour chart had broken the 200 SMA, I've been trading short JPY. As expected, GBP/JPY has fallen, and now the expected retrace is happening.I expect price to rise to 185.00 and then for JPY to continue its march forward.
NOTES:
- JPY strengthening
- USD weakening
- Whole Number (185)
- Approaching 200 SMA
- Previous area of support.
Good luck from the land downunder.
Trade active
PRZ was correct....For now, I'm selling the low's and patiently waiting for price to retrace before buying again.
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