GBPJPY

Another pair approaching a key resistance:



dl.dropbox.com/u/20815047/GBPJPYdaily15_11_12.gif

Main downtrend resistance at 129.45 today. I'll look to go short here with a stop outside the 25th Oct high of 129.65. This is a straight trendline play (no Fibs or EWT this time) so I have to allow for drawing inaccuracy with the trendline. Still, 25/30 pip stop should be enough. Again, I'll look for sell signals on the hourly before taking the plunge.

My order to go short on this got triggered and seems to be doing OK so far:



dl.dropbox.com/u/20815047/GBPJPYdaily19_11_12.gif

I'm not quite sure yet what my target is here so I'll let it run for now with a trailing stop.