I am going short on GBPJPY-1 H chart as described in the chart attached for the following reasons:
- Fundamentally: These days is Risk-Off due to Russia-Ukraine issues, which means bullish on save haven currencies ( JPY, CHF, USD ). and bearish on others including GBP.
- Technically:
1. DOWN-trend.
2. Pulling back to an area of value that been tested multiple times, coincides with 100 EMA trend line ( yellow line ).
3. Entry trigger which is the engulfing candle ( Yellow Arrow in the chart ).
Keep in mind news might change at any time and volatility might appear at any direction.