GBP/JPY Break-n-Retest

26 Kas 2015

GBP/JPY broke a strong trendline that connected rising lows that go back to the end of September, after bottoming out around 181.00. This break was on the back of recent dovish comments by the Bank of England that interest rates to remain low ‘for some time.’ This is obviously a big catalyst for pound sentiment, and it may be the main driver for Sterling in the short-to-medium term. So, I’m looking for a bearish move on GBP.

I would go Short half position at 186.00
"Max" stop at 187.75
Profit Target around 184.00