GBPJPY - New swing low, will it continue melting?

PAIR IN FOCUS: GBPJPY
ACTION: SHORT
HORIZON: SHORT TO MEDIUM-TERM

On the Daily time frame we can see that price has formed a lower high and also broken a new swing low. This offers a SHORT opportunity based on my trading style. Look for bearish price action before any SHORT entry. Price may retest the S/R level before heading lower. If you want to aim for TP 2, make sure there is enough space to float because GBP pairs are quite volatile.

The TP levels and Stop Loss are indicated on the chart. Remember to manage your risk!

Feel free to discuss and comment, Cheers!

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