The above chart is a 4 hour candle view of the pound/yen. Its a very volatile animal and is a forex pair NOT for the faint of heart. Some of my forex students refer to it as the BEAST.
In TA speak it has charted out a rising wedge pattern which is bearish and the pair has been sold hard now twice at the top trend line. I am waiting for confirmation from a candle pattern on the four hour chart which will require a stop of about 100 points. The brave entry was at the trend line. The target is many hundreds of points south . I will shout when i feel its time to mtake some risk.
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