GBP/JPY Long Buy Idea 1:7 RR

29 thg 10, 2019

This trade is pretty self explanatory, I have highlighted key support and resistance zones where price has hit and reversed and now price is moving bearish towards both support and an uptrend which also acts as another form of support. Price is going to struggle to get through this zone and therefore I believe it will reverse and move Bullish to the upside. It will then break through the first minor resistance which will then act as support so when price hits that area once it has been broken it will act as a launch pad and send price to the upside to the key resistance zone.
This trade has a risk of 180 pips and a reward of 1117 pips!!!
This is a long trade and may take anywhere from 3 months onwards to execute.