Pound Yen in recent retracement of prior upswing.
Looking for a trend continuation to downside targeting fib levels
Entry - closer to the significant horizontal resistance at 150.65
Stop 1 - above current 50 MA
Stop 2 - near the prior swing point.
Target 1 = fib .618 ( near the Monthly Pivot point)
Target 2 = fib .786 ( Close to the supporting longer term channel support line)
Risk Reward approx. 2 ......:)
Looking for a trend continuation to downside targeting fib levels
Entry - closer to the significant horizontal resistance at 150.65
Stop 1 - above current 50 MA
Stop 2 - near the prior swing point.
Target 1 = fib .618 ( near the Monthly Pivot point)
Target 2 = fib .786 ( Close to the supporting longer term channel support line)
Risk Reward approx. 2 ......:)