GBP/JPY Mid Term after a strong fight with the JPY

7 hari yang lalu

Hi again guys, we are looking into our next fantastic opportunity which this time will be more Mid Term as development. We will check out the GBP / JPY which has been extremely bullish for an extended period of time, but as we have seen the past couple of weeks since the beginning of November until now that the price has significantly dropped down. Currently as I showcased on my technical analysis it has reached a previous Strong Resistance Line which has been tested a few times and it became a Strong Support Line , so this is why my analysis is showcasing a reversal of the downtrend into an uptrend. Current entry description -

entry 191.550

Target 1 : 193.765
Target 2 : 196.015
Target 3 : 199.850

Keep in mind that we have had high volatility with the JPY pairs so you can be cautious and have your entry after the first target has been reached so you have the necessary confirmation!

Happy trading!