Here is an interesting setup I’ve spotted on the Daily for GBPJPY. This may take a while to hit, so it could be a set and forget (136.95 area) until we see this happen - however, I believe that it will be a nice swing down for a few hundred pips at least.
Here we have a Daily 61.8% fib retracement and 200 daily moving average. Depending on how long it takes for this price to hit, we may also see a 3rd touch of the daily TL.
Let me know what you think below.
Cheers!
