GBPJPY Short Idea

Price was overextended at the 1.18/1.27 zone after a shallow retracement.

*Price reached the 4hr support zone after an impulsive push down after the fundamental announcements.


* Price has retraced to the demand zone and is retesting the 1.18 extension level.


* Looking for price to continue it's down trend to the daily 38.2 retracement level.