Tuesday, July 10, 2012

Looking at a GBP/JPY Short Setup


Very simple GBP/JPY Short setup here. Watched this break multiple trendlines over the past couple of weeks, and now I'd just look for a break below that 123.00 support to take some shorts here. I would be looking for 119.00 to the downside with stops right above 124.50. Giving us a risk reward of about 3:1.

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