GBPJPY - 240 - A good start for the bears.

Quick idea.

The first step for the bears is done - the pair has broken the upside line. But what is really required, in order to get comfortable with further declines, is a drop below the highlighted support area. This way, GBPJPY would confirm a forthcoming lower low and more sellers could join in.

Please see the chart for levels, targets and the alternative scenario.

Don't forget your stop-loss.