GBP/JPY Potential Upward Movement

GBP/JPY Long-Term Trend: Bullish

Key Resistance Levels: 191.952, 192.759, 193.453

Key Support Levels: 190.702, 189.220, 188.704

Daily Chart:

The price on the higher time frame has recently been in an uptrend after it tested a 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 broke a consolidation zone of 188.704 and 189.220 and has sustained above. As of now the pair has broken a minor level and EMA and has retested before continuing the momentum.

Signal Idea:

Buy Stop Order @ 191.195

TP @ 191.871

Stop Loss @ 190.498

Trade Safely 🙂