GBPJPY THOUGHTS

26 thg 7, 2020

GBPJPY has been on a bullish run since the start of July after the third touch of our ascending trendline which was also on the 78.6 Fibonacci level. We rested on a strong support level on the daily timeframe so now would be a good time to enter long positions to our first target which is a weekly resistance level of 139.200, if we reach this region we wait to see if we breakthrough then wait for retest and enter again for our long term target 2 which is our monthly resistance of 148.000. This would be a 1250 pip move!