GBP/JPY Potential Upward Movement

GBP/JPY Long-Term Trend: Bullish

Key Resistance Levels: 192.315, 193.542, 194.388

Key Support Levels: 190.054, 187.520, 184.279 

Daily Chart:

The price on the higher time frame has recently been in an uptrend. It bounced back after testing a 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 to shoft the medium term market structure to bullish. As of now the pair has formed a demand zone at 190.054 level and retested before continuing the momentum.

Signal Idea:

Buy Limit Order @ 191.115

TP @ 192.243

Stop Loss @ 189.987

Trade Safely 🙂