gbp/jpy sell

anshuman_05 Updated   
FX:GBPJPY   British Pound / Japanese Yen
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.
Trade active:
up 40 pips from the entry
text book re-test and fall in the pair. Always a great place to enter the trade, just have to be patient.
Target almost hit. Time to take profits.
Trade closed: target reached


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