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Potential Head & Shoulders on GBP/JPY

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Brittiska pund/Japanska yen (FX:GBPJPY)  
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FX:GBPJPY   Brittiska pund/Japanska yen
Support and Resistance Supply and Demand Head and Shoulders GBPJPY gbpjpyshort gbpjpyanalysis gbpjpyprediction gbpjpyforecast gbpjpydaily gbpjpytrade gbpjpyidea gbpjpy_outlook
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supportandresistance supplyanddemand headandshoulders gbpjpy gbpjpyshort gbpjpyanalysis gbpjpyprediction gbpjpyforecast gbpjpydaily gbpjpytrade gbpjpyidea gbpjpy_outlook
If this pattern completes, the daily zone (green area) where the breakout occurred recently will finally be re-tested. Look for a candle to close below the pink zone on the 1H chart or the blue zone on the 4H chart in order to short the pair down to this area. The rule of thumb for trading a H&S pattern is the distance - in pips of course :) - between the head and the neckline is how far down you will set your take profit.

What is your analysis of GBP/JPY currently?
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