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Gbpjpytrade

Potential Head & Shoulders on GBP/JPYIf this pattern completes, the daily zone (green area) where the breakout occurred recently will finally be re-tested. Look for a candle to close below the pink zone on the 1H chart or the blue zone on the 4H chart in order to short the pair down to this area. The rule of thumb for trading a H&S pattern is the distance - in pips of course :) - between the head and the neckline is how far down you will set your take profit. What is your analysis of GBP/JPY currently?
Short
by Jabest
GBP/JPY - 300 Pips+ Long Term Short Opportunity GBP/JPY showed first signs of important weakness. It has moved down under all the ema's on the hourly chart to make it an important movement and could very potentially be a trend continuation pattern. If it does not hold support at it's current level, then I expect it to go down about 300 pips and more in the long term. Always trade after your own analysis as well as risk/money manage properly. Happy trading and wish you the best!
Short
by MoolahMaker