As can be seen, last week on the 1W timeframe, GBPJPY already retest the 150.00 key level and bounce from the parallel channel. On 1D, we can see a huge morning star formation from 150.00 support zone. Now I personally expect GBPJPY to form a new high, the target could be around 155.000 level. A break and close above 152.500 on 4H timeframe could be a signal for me to execute the trade. Let's see.
Note
GBPJPY is movingNote
I closed the trade at 154.00, after evening star formation. Risk/reward is around 1.8. 140 PIPs achieved
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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.