GBPJPY. Potential long opportunity.
We believe that GBPJPY will continue to the upside after coming down to our PBA (Pull Back Area). Our entry is sitting at the pullback area at 190.402. We are looking for breaks of 193.289 and 195.862 which would confirm our target 197.500 where our TP is sitting at. Our SL is sitting at 188.127 and if broken, it would result in deeper pullbacks which would not be out of the ordinary based on a weekly timeframe.
PARAMETERS
- Entry: 190.402
- SL: 188.127
- TP: 197.500
KEY NOTES
- GBPJPY has fallen to our PBA.
- Break above 193.289 and 195.862 would confirm higher highs.
- Break below our SL would result in deeper pullbacks.
Happy trading!
FxPocket