Time to short GBPJPY for a quick scalp trade! The downward trend is continuing. On the hourly chart I’ll shorting with the following conditions:

GBPJPY Hourly Chart Scalp Setup – Short @ 146.320 to 145.924 SL: 146.653

All of my Moving averages are flying over the downward trend and I usually use the fibonacci retracement levels to set my Take Profit. In this case 161.8 seems achievable. I chose the TP slightly higher just to be safe.

Let’s see if I’m right! 🙂

Keep you posted!