The Trend line on the daily Gbp/yen has held. Above I show a hourly chart taken at 7.15 GMT.The pair has risen and is now charting out a bearish technical pattern which is called in my classes an EVA MENDEZ setup. It is is my view that sterling yen is going to break down and test and hopefully break the trend line on the daily chart presented last evening. If this works out as planned, we are standing on the brink of the trade of the month.I am waiting for confirmation of a turn. I will communicate this as it happens.
Have a great trading morning.
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