Yes folks, its the Pound/Yen, yet again (I'm a poet and I don't even know it!). This pair is again setting up nicely for a fall. If it closes below the blue entry line, I will sell. If it does decide to go south, it could fall down to the 800 sma, and if it breaks that, it could go to the green base line. There is still 1000 pips to be made on this pair if it decides to fall back. It could go as low as 137ish. I'll move to break even at +100 pips and have my initial stop at about 149.00. This is a big stop, so if you are trading a smaller sized account, you might want to downsize your lot size to account for it. I'll do a post one of these days to talk about trade sizing. I'll keep you posted.Happy Trading!
