Here, we have GBPJPY at Daily trend line resistance level. As you can see here on this 4HR chart, the pair currently show overbought conditions on both RSI and Stochastic. I believe this is a good entry level. Your SL should be at a logical area above the resistance trend line and aim for first potential target @ 153.33.
1st Target - 153.33
2nd Target - 153.00
3rd Target - 152.62
1st Target - 153.33
2nd Target - 153.00
3rd Target - 152.62
Note
Possible H&S formed in 1HR chartTrade closed: target reached
1st Target Profit reached. Will look for more opportunities next week.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.