The808Trader

GBP/JPY - Ichimoku Short Sell Setup

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FX:GBPJPY   英鎊 / 日圓
We had a big bearish move last week before this pair finally found support and retraced all the way back up to kijun sen. It is still holding resistance here and I am watching for a continued move down with an opportune time to enter. I've set my sentry level at tenken sen hoping to catch a move down if we see our bearish price movement continue. I've set my TP near our previous price structure low, but we may even push past that if we can get the bearish impulse to break lower. If we fail to break lower or stay below kijun sen here then this setup will become invalidated. 

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