Watching the GBP/JPY pair closely for a potential short setup. Price is approaching a critical area near the ascending trendline, and I'm anticipating a potential breakdown from this level.
Plan: Wait for a break and retest of the trendline around 190.546 for confirmation before entering short.
Entry: 190.546 (on the retest after a confirmed break) Stop Loss: 192.446 (above recent highs, -189 pips) Take Profit 1: 189.008 (+153 pips) Take Profit 2: 186.976 (+357 pips) Take Profit 3: 183.771 (+678 pips)
I will wait for confirmation and enter on the retest. If TP1 is hit, the stop loss will be moved to break even to secure profits.