GBP/JPY Long-Term Trend: Bullish
Key Resistance Levels: 154.164, 154.647, 155.000.
Key Support Levels: 153.674, 153.202, 153.000.
1-Hr Time Frame:
The price on the higher time frame failed to continue its move to the downside where the price was hold above the support along a long wick bar to the downside showing that the buyers are in control of the market. This could lead to a reversal and then a move to the upside toward the next key resistance levels.
GBP/JPY Medium-Term Trend: Bullish
10-Mins Time Frame:
On the lower time frame, the buyers succeeded to break the bearish trend line to the upside after a double bottom formation. A lower correction has been posted to the support level to bring back liquidity before a new bullish impulsive wave toward the target profits.
Buy Limit Order @ 153.675
Target Profit 1 @ 154.147
Target Profit 2 @ 154.621
Stop Loss @ 153.202
Trade Safely 🙂