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GBP/JPY Potential Upward Movement

GBP/JPY Long-Term Trend: Bullish

Key Resistance Levels: 186.989, 187.468, 188.059

Key Support Levels: 186.176, 184.011, 183.585

Daily Chart:

The price on the higher time frame has recently been in an uptrend after it tested a major support level of 178.799 and bounced back. The pair has continued to break a few resistance levels which suggests further trend continuation.

GBP/JPY Medium-Term Trend: Bullish

1-Hour Chart:

On the lower time frame, the pair is moving in the major trend’s direction. It recently grabbed liquidity from a volume area of 185.348 and bounced back. As of now the pair has broken and retested a minor level of 186.176 before continuing the momentum. 

Signal Idea:

Buy Limit Order @ 186.508

TP @ 186.952

Stop Loss @ 186.064

Trade Safely 🙂

About Vipul Rathaur

A trader with more than six years of experience, Vipul is a discretionary trader and uses multi time frame analysis for his analysis and price action for his trade signals. Believes that risk management is the secret to making it in this world. He trades major Forex pairs, Indices, and Commodities.

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