GbpJpy- Trade the breakAfter reaching 156 high, GbpJpy started to drop.
The drop is corrective in nature and has stopped in 149-150 very strong support
At this moment the pair is trading around 153 resistance and a break here could lead to acceleration to the upside.
I'm looking to buy for 160 target
Gbpjpydaily
GBPJPY - SHORT This pair has rallied a long way since the recent lows at 151.40 area... I expect the GBP rally to start slowing and therefore have started to fade this pair at the 155 level. My stops will be implemented if we break the old upper limit of the downward trend line around 154.30 level. JPY has been fairly muted as of late, so this is effectively a cable trade without the dollar exposure.
Short GBPJPY @ 155
TP: 153
SL: 155.30
Good luck!
GBPJPY - Buy Entry - D1 ChartGBPJPY - Buy Entry - D1 Chart
Buy @ Current Market
Take Profit @ TP 1 or TP 2
Recommended Risk - Stop Loss @ 0.5% to 1% of your Account Balance
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