Gbpjpy_outlook
GBPJPY NEXT TRADE SETUPGBJPY currently running at 136.214 and have made a clear bullish momentum towards its next resistance at 137.30 on H4 timeframe.
If it breaches the minor resistance at above blue zone which end on 136.40, then it will be a clear bullish movement. Buyers can hold their trades till next resistance.
Remember : GBPJPY just like most of other GBP pairs (GBPUSD) is on two days bullish streak.
The entries on this trade idea shall be taken only if all the rules of entry are satisfied.
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GBP/JPY Wave Analysis
After a strong bull run, the counter is currently in corrective (ABC) mode.
It has completed wave A and is forming its final leg of wave B.
It is now up against a resistive trendline and a break above it can take it higher.
Hence, we advise traders to initiate long positions only when an hourly candle closes above the trendline.
BRITISH POUND/JAPANESE YEN GBPJPY SHORT30 minute structure broken.Wait for a potential retest and short the pair To the daily support level 136.00. FX:GBPJPY
* WEEKLY TREND =UP
*DAILY TREND = UP
*H4 TREND = UP
30 MINS TREND = DOWN(can ride the trend down to the H4 or Daily Key levels for short profits