GBP/JPY Potential Upward Movement

GBP/JPY Long-Term Trend: Bullish

Key Resistance Levels: 191.392, 192.826, 194.125

Key Support Levels: 188.131, 186.028, 184.279 

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 184.279 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 the support level and has sustained above that. As of now the pair has broken and retested a minor level of 188.131 before continuing the momentum.

Signal Idea:

Buy Stop Order @ 189.604

TP @ 191.172

Stop Loss @ 188.036

Trade Safely 🙂