GBP/JPY Long-Term Trend: Bullish
Key Resistance Levels: 157.389, 157.712, 158.000.
Key Support Levels: 156.137, 155.872, 154.500.
1-Hr Time Frame:
The price on the higher time frame succeeded to break the bearish trendline to the upside after posting a consolidation phase near the strong demand zone. A bullish engulfing pattern has been posted signaling that the buyers are ready to push the price higher.
GBP/JPY Medium-Term Trend: Bullish
15-Mins Time Frame:
On the lower time frame, the price showed momentum where a series of big bullish bodied bars has been formed and additional to that the recent high has been breached. Higher lows and highs has been seen this indicates that we are in a new trend to the upside.
Buy Market Order @ 156.323
TP 1 @ 157.321
TP 2 @ 157.712
Stop Loss @ 155.960
Trade Safely 🙂