Pair: gbpjpy
Timeframe: 4-hour
Long or short: short
Trade rationale:
The pair has gotten rejected at the falling trend line a few times in the past. I’m thinking price would once again bounce off it the next time around too. I’m not really bullish for the yen but I’m thinking that maybe the UK GDP report or risk aversion could trigger the move down.
Details:
Short at 143. Stop at 144. PT 139.00. RR ratio: 4;1.