GBP/JPY Long-Term Trend: Bullish
Key Resistance Levels: 156.03, 156.60, 157.00
Key Support Levels: 154.55, 153.42, 152.24
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
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.
Buy Limit Order @ 154.84
TP 1 @ 155.95
TP 2 @ 156.05
Stop Loss @ 154.29
Trade Safely 🙂