GBPJPY - POTENTIAL SHORT POSITION ENTRY

As my previous post analysis on GBPJPY, I mentioned that if the price can break the resistance at 138.35, means it is a great move to go for long position. Unfortunately, the price break the flag pattern to go downward even more but currently price sits around the flag pattern. We may go for short position if the price reject the flag pattern and definitely will go down to 136.70 approximately. But, in the meantime if the price can break the flag and even break the 138.35 point, we may go for long entry once again. Good luck!

Trade Idea : Short
Price : Around the Flag pattern (If reject)
Take Profit : 136.70
Stop Loss : 35 - 40 Pips


Disclaimer!
This analysis does not give traders any confirmation on trading execution! It is for educational purposes only. You can refer this analysis and outlook for trading idea but trade at your own risk and trust your analysis first! Thank you and good luck for everyone!