More downtrend is possible in GBPJPY

Apr 29, 2020

Hello friends, I have been selling GBPJPY for the last 2-3 weeks now since 135.50 area. Although the movement has been very slow. I am trying to sell, take profit and then re-enter the trade on a Pullback.

This is my chart from yesterday where I expected price to drop from the 133.40 area.

Currently, we are 100 pips lower from that level.

However, I believe GBPJPY will drop to 130.50 area again later this week or early next week. So, I prefer to add to my sells in GBPJPY

Apr 29, 2020

Note

GBPJPY dropped to the initial target at 132

Apr 30, 2020

Trade active

Re-entered sell at 132.90