The GBPJPY pair is positioned for a long term SHORT and Bearish runs to the downside with an expected support level @ 130.646.
Once the price breaks below the support level @ 130.646 price should run to the downside for @ 125.500.
We will take our entry on the bearish engulfing/confirmation candle @ 135.190 on the daily chart. This will take us to our first target @ 130.646.
Thereafter, we should wait for the breakout to the downside and close below @ 130.646 to continue SHORT/BEARISH to @ 125.500.
Good Luck.
Once the price breaks below the support level @ 130.646 price should run to the downside for @ 125.500.
We will take our entry on the bearish engulfing/confirmation candle @ 135.190 on the daily chart. This will take us to our first target @ 130.646.
Thereafter, we should wait for the breakout to the downside and close below @ 130.646 to continue SHORT/BEARISH to @ 125.500.
Good Luck.