A SurpriseBox was formed on the GBP/JPY daily chart 100sma (green line) and 50sma (blue line). This box may be broken tonight at the completion of the day. The broken box also seems to me like it is forming a head and shoulders pattern. If it continues at this level tonight, will start a position to the short side.
Disclaimer: I trade the patterns depicted either at the entry point stated (e.g. trading channel, breakouts) or afterward. Although my trades are based on technical analysis, trading forex is a risky activity and may produce significant monetary loss. I only make public the trades that I am considering to make, or made and the rational for them. Not intended necessarily as trading recommendations.
