The Pound Yen.
Good afternoon all,
After posting Thursday mentioning a possible halt to the downtrend of the CAD, due to previous support, price then immediately fell straight through that area to continue the downtrend without so much as a pause, but as you all know to avoid FBO's ( should this be one ) there are different techniques you can employ to try to avoid such cases, and depending on your trading stance, will determine whether you use the more aggressive or conservative entry.
Todays chart is of the GBPJPY, which has confluences to note of, price is currently in a DT and maybe trying to test the former support area, with the current upmove standing at a higher BL and a possible bearish flag formation.
As always please ensure to do your own analysis before taking any trades.
Good luck to you all for your trading week.