One of the most volatile pair, you must be very sure to take the trade
GBP expect to be downtrend unless it break the resistance then go long
Down trend for GBPJPY but if it break that resistance, it will go for a short uptrend.
I think its time to go long on USDJPY until its break the downwards channels and the above resistance. Do not anticipate but wait for indications and scalps at each levels.
My idea: Is always look at the candle movement within the Channels and Fibo measurment to meet my target.
You can put Pending Long and Pending Short. Dont forget to give some buffer for spread widening,
Using Fibo and Pitchfork to look at the movement of this pair. May the pips be with you
FIbo Strategy to go for Short as Yen will continue to strengthen and Pound weaken further
Pound has touches the H4 resistance 3 times last week and it gonna break anytime soon. Looking at Yen is strengthening and Pound will weakening further. Good Luck Fellow Traders, May Pips Be With You!!!