GBP/JPY Long-Term Trend: Bullish
Key Resistance Levels: 152.243, 153.297, 154.000.
Key Support Levels: 151.326, 150.454, 149.408.
The price on the higher time frame failed to break the strong daily support around the 151.326 JPY mark where the coin moved below it and then moved higher. We expect further movement to the upside toward the next key level.
GBP/JPY Medium-Term Trend: Bullish
On the lower time frame, the pair broke the Wyckoff accumulation phase to the upside and it posted a double bottom which led to a reversal. A lower correction could be seen to the neckline before a new bullish impulsive wave toward the target profit.
Buy Limit Order @ 151.558
TP 1 @ 152.227
TP 2 @ 153.297
Stop Loss @ 151.327
Trade Safely 🙂