GBPJPY Daily Triangle Trade

GBPJPY Daily

Pair GBPJPY is making out a triangle on daily charts. 

The first point of upper trendline comes at Apr-11 and  has restrained price since Mar-12. Lower trendline has restrained price since Jan-12 and has been tested once in June-12. 



Triangle is wide having aproxx 850/900 pips range. So trading pullback from trendline should be the strategy with a tight stoploss of break and daily close on other side of trendline. 

Currently the price is near to upper trendline and I plan to go short at around 129.50.