GBP/JPY Long-Term Trend: Bullish
Key Resistance Levels: 155.89, 156.08, 157.00
Key Support Levels: 155.48, 154.82, 154.00
The price on the higher time frame is in a clear upward movement where it posted higher highs and lows. The price succeeded to break the daily resistance (now support) around the 154.82 USD mark. The pair retraced to it and now it is preparing to be launched to the upside again.
GBP/JPY Medium-Term Trend: Bullish
On the 1-hour time frame, the pair managed to break the wedge formation to the upside. A lower correction is expected to the highlighted zone before a rally toward the target profit which is the 155.78 USD level.
Buy Limit Order @ 155.48
TP 1 @ 155.78
TP 2 @ 155.89
Stop Loss @ 155.33
Trade Safely 🙂