GBP/JPY Trend Line is Taken Out

The GBP/JPY has been breaking below the trend line after successfully making 1-2-3 pattern sell.

Last week I saw a potential for the short. However, the shorts happened after point 3 has been printed out and now we see that trend line is being tested. It has already been taken out, so if sellers manage to hold below the trend line in the next 2 hours, we should see a move down. Intraday targets are 149.20 followed by 148.90. For swing traders 147.70 could be the final target.

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Cheers and safe trading,



Published by

Nenad Kerkez

Nenad Kerkez is an analyst and trader who has been in the market since 2008 and works closely with Admiral Markets as their Senior Lecturer and Market Analyst. Nenad covers over 25 currencies on an intraday basis and has a Masters in economics. He also developed CAMMACD TM, a proprietary trading and analysis strategy wit ever powerful pre fact setups that you can read every day. Nenad is also a valuable presenter on various FX EXPO shows, where he always presents new and interesting ways how to trade price action and protect your own investments. Further, he is the co-founder and head of Elite Currensea Trading, an educational website for currency traders.