TRADE ALERT— gbpjpy had been ranging for quite a long time and its breakout was bound to happen. it made a bearish breakout and retested. although it retested, it was a strong retest..we can anticipate price to make a small range here then drop further to our next support.
IMPORTANT— If price fails to make a new low here and continues bullish back into the range, its best to wait till it breakout of the range again, and this time it will most likely breakout bullish and this breakout we have now would be a fake out. something to keep in mind when monitoring your trades