GBP/JPY - British Pound Yen
Short term (Intraday)
152,04. GBP JPY is in an downtrend directed by 1H exponential moving averages. The volatility is high. Bollinger bands are parallel and form the trend. ForexTrend 1H, 4H (Mataf Trend Indicator) is in a bearish configuration. 1H, 4H, daily ForexSto (Modified Stochastic) indicate a bearish pressure on GBP JPY. The downtrend should continue to gather momentum.
We could take a short position at 152,00. We will put the stop loss above 152,80 (-80 pips). The targets are 150,50 (+150 pips, risk/reward 1:1.9), 148,00 (+400 pips, risk/reward 1:5) . Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 3.
Resistances 152,60 - 153,20 Supports 151,75 - 150,50

