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GBP/JPY Potential Upward Movement

GBP/JPY Long-Term Trend: Bullish

Key Resistance Levels: 156.03, 156.60, 157.00

Key Support Levels: 154.55, 153.42, 152.24

Daily Chart:

The price on the daily time frame is trending to the upside by posting higher highs and lows. Recently the price succeeded to break the 154.55 USD resistance and it retraced to it. What we expect is a further movement to the upside in the same direction of the main trend.

GBP/JPY Medium-Term Trend: Bullish

1-hour Chart:

On the 1-hour time frame, the price succeeded to break the bullish flag to the upside after finding buyers around the previous high (154.83 USD). A lower correction might be seen before a rally all the way up toward the target profit.

Signal Idea:

Buy Limit Order @ 154.84

TP 1 @ 155.95

TP 2 @ 156.05

Stop Loss @ 154.29

Trade Safely 🙂

About Joe Damien

Joe is a proven Forex analyst and manual trader with 6 years of full-time trading experience. He is a swing trader that relies on price action, market structure and Fibonacci retracement. His two most successful pairs are CHF/JPY, CAD/JPY, but his expertise allows him to profit on any asset or pair.

2 comments

  1. In the free signals you didn’t post that this trade was cancelled manually on 6/15 2:56am.

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