Hello traders and good to be back with you today on this Tuesday. I am looking at the GBPJPY 120 minute chart and what attracted me was the we are at resistance and price is stalled. I am bias bearish and am looking to sell this to the downside. I am looking to enter below the trend line I have placed on the chart and we can see it has closed and retested. I would like to enter at the price of 134.45. I am looking to take profit just above the support of the 200EMA at the price level of 130.66. This trade looks like a good trade and we could be in this for the rest of the week and out by Friday.
Thank you traders and we will talk soon……..