GBP/JPY ABCD Pattern - JPY to continue to strengthen.

Ever since the $DXY on the 1 hour chart had broken the 200 SMA, I've been trading short JPY. As expected, GBP/JPY has fallen, and now the expected retrace is happening.

I expect price to rise to 185.00 and then for JPY to continue its march forward.

NOTES:
- JPY strengthening
- USD weakening
- Whole Number (185)
- Approaching 200 SMA
- Previous area of support.

Good luck from the land downunder.

Dagangan aktif:

PRZ was correct....

For now, I'm selling the low's and patiently waiting for price to retrace before buying again.