Last night I decided to stick with my original trade plan and it turned out to be a profitable move. The take was 60 pips.
Tonight I want to sell GBP/JPY 132.65-132.75 with a tp 131.95 - 132.05 and SL 133.15-133.25.
I want to sell again because solid support after the 132.80 region isn't present until the 132.00 zone. 132.80 is now immediate resistance and is on the verge of being tested as we speak. The RSI is below the 50 mark but doesn't look to healthy and bears may take this opportunity so smash the pair through 132.00 with 131.00 in sight. Hourly chart is also showing 132.80 as pivotal with 100EMA around 132.60 and the RSI topping out.
The minute charts are very mildly bullish with a 132.14-132.60 range under the 100EMA.
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