GBP/JPY, Short idea

May 18, 2020

Very simple structural lay out, we can see clearly that price is respecting that level of resistance to create a wick rejected double top. This is clear indication of more downside movements. Now I am already in this trade, I entered on earlier confirmation but price moved against me. but now I am seeing price react to that current level, so from now I will monitor price and see if it does manage to push down more it should pull back and then continue a bigger timeframe downtrend.

until then my bias is downside moves through this week?

Thanks, trade safe