GBPJPY
has hit the monthly bearish target early in the month and so we are expecting to see a nice rally up to the 134.000 level with a potential 500 pips on the table. We have a nice 4 hour bullish engulfing candle so we are waiting for price to pull back into support before looking at long opportunities going into tomorrow.
Stops will be below the low and as already mentioned, target will be just short of the 134.000 level.
Trade safe!
Cheers, Paul.