The Japanese Yen (JPY) was strong during the 9/1 session. I continued to strengthen as the session ended. The GBP/JPY for example was bearish since the start of the week drifting down to 183.18 before going into a descending triangle in he 15-minute chart during the 9/1 European-US sessions. GBP/JPY 15-min chart 9/1 (click to enlarge) The 15-minute chart above shows that by the end of the 9/1 global session, GBP/JPY has broken below that triangle support. This can be attributed to general JPY-strength across the board, which can be explained by a bout of risk aversion towards the end of the US session. Now, if there is a pullback to 183-183.20, we should see if the market will provide resistance. If so, there should still be downside risk towards at least the 182.00 handle. A break above 183.50 however will likely break above that triangle resistance and would be a cause for concern if you are bearish. Trade Consideration:How do you plan to play this? Keep it simple? sell around 183.10? Stop at 183.70 would require a risk of 60-pips. The target of 182 would provide 110 pips. Not a great reward to risk, but I think given the likelihood of the prevailing short-term trend continuing, it is worth considering. If price does not pull back, maybe we missed the ride. Just keep watching the market for opportunities. There will be more technical clues for trade ideas ahead.