GBP/JPY SHORT

Oct 26, 2017

While we did see a spike up of 205 PIPs early morning, on the daily view it seems to be forming a range. Bollinger bands support the range and indicate a short term down move. Expecting a retracement of at least 38% FIB level before possibly making another push back up to prior resistance level of 151.50. If it breaks below 38%FIB aiming for 2nd TP@149.13 (50%FIB).