Looking at GBP/JPY 15-minute chart, we've identified a symmetrical triangle formation suggesting continuation of the recent bullish momentum.
Trade Setup:
BUY @ 191.80 (Triangle resistance breakout)
SL: 191.50 (Below triangle support)
TP1: 192.20 (Previous resistance)
TP2: 192.50 (Key psychological level)
Risk:Reward = 1:1.33 (TP1) and 1:2.33 (TP2)
This setup offers a high-probability entry with limited downside. The pair has shown strong buying interest after rebounding from 188.00 area. Watch for a clean break above triangle resistance to confirm entry.
Consider partial profit-taking at TP1 to secure gains while allowing remainder to reach extended target.
Trade Setup:
BUY @ 191.80 (Triangle resistance breakout)
SL: 191.50 (Below triangle support)
TP1: 192.20 (Previous resistance)
TP2: 192.50 (Key psychological level)
Risk:Reward = 1:1.33 (TP1) and 1:2.33 (TP2)
This setup offers a high-probability entry with limited downside. The pair has shown strong buying interest after rebounding from 188.00 area. Watch for a clean break above triangle resistance to confirm entry.
Consider partial profit-taking at TP1 to secure gains while allowing remainder to reach extended target.
Trade closed: target reached
TP1 HIT5m view -
Note
SL or BE if moved the SL after TP1 hit
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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.
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.