Whats Next for GBPJPY?

7 בנוב׳ 2016

With all the pound weakness over the past few months, we can safely attempt this simple ABCD setup. We are simply expecting the market to pull back into the willis zone @129- 131 region and collapse downwards. Estimating about 350Pips in decline. However if we break the willis zone region with bullish momentum, this trade idea will become invalid. We'll keep you updated :)