gbp/jpy sell

Jul 10, 2023

gbpjpy has broken down from the head and shoulder reversal pattern and is now heading lower. Yen has been strengthening overall and it is interesting to see that even the USDJPY pair has been struggling. There is some risk off in the financial markets as a whole and that seems to help yen. The target is the depth of the pattern and is marked on the chart. There can be a partial entry at the current price and then some more when the neckline is re-tested if at all.

Jul 10, 2023

Trade active

up 40 pips from the entry

Jul 11, 2023

Note

text book re-test and fall in the pair. Always a great place to enter the trade, just have to be patient.

Jul 12, 2023

Note

Target almost hit. Time to take profits.

Jul 12, 2023

Trade closed: target reached