I am looking at the GBP/JPY I am a bear on the yen so i have been wait and wait for a place to buy this pair . We are at support on the daily and weekly charts my 4 hour chart show WS2 @174.9967. The Daily and weekly stochastic are way over sold the 4 hour stochastic is rising right now . So i am looking for price action to make a higher high and then a a higher low for an entry long. If price closes below 174.831 I would then expect price to fall to 168.55 ish where my 200 ema is on my weekly chart which is the green line?.

GBPJPY Trade plan 5th Jan2016 New York Open

Daily chart GBPJPY 5th Jan16

Weekly Chart GBPJPY trade plan 5th Jan 16

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