GBP/JPY Potential Upward Movement

GBP/JPY Long-Term Trend: Bullish

Key Resistance Levels: 194.628, 196.124, 196.953

Key Support Levels: 192.424, 190.977, 189.505 

Daily Chart:

The price on the higher time frame has recently been in an uptrend. It tested a support level of 184.279 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 broke a trendline to shift the medium-term trend to bullish. As of now the pair has broken and retested a minor level of 192.424 before continuing the momentum.

Signal Idea:

Buy Stop Order @ 193.416

TP @ 194.521

Stop Loss @ 192.307

Trade Safely 🙂