GBPJPY has been in a strong down trend and has broken from a sideways channel which it has retested on Friday. Assuming rejection continues which can be seen from the hammer that has formed on the 4HR time frame, then there is a a potential good R:R trade to the downside.
Note
Breakout of existing channel failed. Trade closed
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.