GBP/JPY Trade of the week 6/25-6/30

A daily close below the 50% retracement @ 141.80 💴
opens the door to test key trend line support @ 140.00 💴and then 138.60 💴 any indication of gridlock in parliament would strongly increase the probability of a test of 135.00 💴Traders were reluctant to hold on to their long GBP positions into the weekend as expected. Short GBPJPY at or above 141.50 with a stop loss @ 142 and a target of 138.60. Risk is 50 pips. Potential profit is 290 pips. #Straight Pippin 😎