GBP/JPY Potential Upward Movement

GBP/JPY Long-Term Trend: Bullish

Key Resistance Levels: 189.335, 190.937, 192.432

Key Support Levels: 186.574, 185.734, 184.338 

Daily Chart:

The price on the higher time frame has recently been in an uptrend. It bounced back after testing a major support level of 184.338 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 broke a trendline around a support level and has sustained above that. As of now the pair has broken and retested a minor level of 186.574 before continuing the momentum.

Signal Idea:

Buy Limit Order @ 187.724

TP @ 189.284

Stop Loss @ 186.156

Trade Safely 🙂