GBPJPY - Short

GBPJPY - SHORT BIAS.

Are we seeing the decline in GJ bullish momentum coming to an end?

What are we expecting?

- JPY Strength - GBP weakness = GBPJPY Short Trades.

What is our confirmation?

- Price has Completed its 5th Wave
-The Daily TF is looking like profit taking has been took out of the markets coming into tomorrow HIGH Impact GBP News.
- Use GBPUSD For added confluence as they mirror each other.
- JPY Strength

Where shall we enter?

- We can enter a safe position once lower structure level has been broken (Blue Structure) as this will confirm our wave count is correct.
- Simple Break & Retest for added confluence.
- Negative GBP News Release.

Once entered where will our SL BE?

- SL will be above blue structure zone for safe SL

Targets?

1- 164.000
2 - 160.000