GBP/JPY Trend Line is Taken Out

The GBP/JPY has been breaking below the trend line after successfully making 1-2-3 pattern sell.

Last week I saw a potential for the short. However, the shorts happened after point 3 has been printed out and now we see that trend line is being tested. It has already been taken out, so if sellers manage to hold below the trend line in the next 2 hours, we should see a move down. Intraday targets are 149.20 followed by 148.90. For swing traders 147.70 could be the final target.

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Cheers and safe trading,

Nenad