GBP/JPY - Short to 179.000

7 thg 3, 2015

GBP/JPY short to 179. Strong selling pressure towards end of last week. Price is at key support level so we may see a pull back to 182.500 before a move down. Keep an eye on the price action when the market opens on Sunday night. I will wait for break of level prior to entering trade.

Target level of 179.00 This coincides with ascending trend line, 200EMA and .618 fib.