A nice GBPJPY swing trade to the downside has presented itself
GBPJPY annual cyclic moves are at play. With the world markets in crisis the Sterling has been enjoying highs, a cyclic correction may be at play, technical analysis pointers support a swing to the downside, rejection to the upside has already occurred on the Daily TF, the uptrend channel is high likely going to respect swinging to the downside back to the 1.60's. As usual market manipulation would have retail traders consider buys, so we practice patience and wait for clear convincing candlestick moves to substantiate the bearish biased analysis. Commitment of Traders on the Chicago Mercantile Exchange is almost at equilibrium. I suppose we will see bears coming in in the next few weeks and have the hedge fund figures confirm
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