GBP/JPY Long-Term Trend: Bullish
Key Resistance Levels: 171.32, 171.98, 172.56
Key Support Levels: 169.34, 167.85, 164.82
The price on the higher time frame has been in an uptrend after forming a big rejection wick recently. The pair has found support at the 164.82 level and bounced back after testing that area which indicates a bullish bias.
GBP/JPY Medium-Term Trend: Bullish
On the lower time frame, the pair is moving in the major trend’s direction. The price recently broke a resistance level of 167.85 and sustained above that. It has now also broken and retested a minor level of 169.34 before continuing the momentum.
Buy Limit Order @ 170.08
TP 1 @ 170.97
TP 2 @ 172.31
Stop Loss @ 169.19
Trade Safely 🙂