Brexit GBP Concerns? - Ichimoku GBP/JPY Sell Setup

31 mar 2019This setup is the same as last weeks, but I wanted to re-emphasize the setup. There were further confirmations last week as we waited for a triggered entry and we finally got it at the end of the week last week. As I mentioned previously this is a big play overall on the Brexit situation happening right now. As I hope you're aware during times of economic uncertainty the JPY is often seen as a safe haven and this safety sanctuary often seen a large migration of funds when other economies are in turbulence. While this order has been triggered it is only in profit by a few pips and I am looking for it to continue to advance downward. We have a decently large Take Profit level to aim for as well as some partial take profit levels along the way. This setup may time some time to progress so be ready to be patient if you end up take a trade with this pair as the Brexit situation plays out. If we fail to break support and break lower, or if our bearish confirmations change, this setup may become invalidated.