The gpb/yen still excites me. We had a very good trade in the pair at the start of last week. It was a trade that I unfortunately took profits much to quickly. The rising wedge on the pair is still intact on the daily view, while the four hour view has made a very bearish bar chart formation. Both charts are shown above.
This is the most devious of forex pairs but there is the potential of a 500 point fast move. The Fibonacci expansion on the four hour chart above, shows the potential.
I shall be looking for confirmation of a move from the lower timeframes and will report on that before the start of the London session at about 0615 GMT.
Be careful. This pair is known by many as the BEAST.
Untill the morning of Monday 11th January.
Good Night .
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