GBPJPY Short Idea
Updated
Looking to short GBPJPY from 189.050.
Currently GJ is making some downward momentum to the lows created after XXXjpy pairs across the board crashed. Looking to join the movement down. GJ has broken the level 188 which was the support for the small uptrend movement created after the crash. This gives me some confidence of continued downward movement. There is some alignment with other JPY pairs, AUDJPY is approaching a level that looks prudent to short as well. Timing of the alignment is necessary.
Confluences:
-38% fibo
-Key level
-H4 & H6 50EMA
Position- Short
Entry- 189.050
SL- 45 pips
TP- 150 pips (Take Partials at 1:2)
Currently GJ is making some downward momentum to the lows created after XXXjpy pairs across the board crashed. Looking to join the movement down. GJ has broken the level 188 which was the support for the small uptrend movement created after the crash. This gives me some confidence of continued downward movement. There is some alignment with other JPY pairs, AUDJPY is approaching a level that looks prudent to short as well. Timing of the alignment is necessary.
Confluences:
-38% fibo
-Key level
-H4 & H6 50EMA
Position- Short
Entry- 189.050
SL- 45 pips
TP- 150 pips (Take Partials at 1:2)
Order cancelled
Trade cancelled. New low has been made therefore invalidating the setup for now. 
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