The Pound Japanese Yen.

Good morning Dynamic Traders,

Today I am looking at the possibility of a DT formation on the Pound Japanese Yen cross for a possible shorting opportunity or continuation.

The daily timeframe chart has been hanging around the V.I. for several days contemplating its next move.

If you take a look at the image below of the four hour timescale, it is showing features of the DT scenario and so I shall await confirmation of this to trade to the downside or otherwise I shall await the BOB and trade accordingly with ESLT.

If the DT should happen wait till you get all your confluences and perhaps look to the daily and weekly tools of the same for a confluence around the higher figure.

As always please do your own analysis before taking any trade.

Charts courtesy of AdvancedGet.

Good luck.

Clayton Farnworth.