GBPJPY is travelling up along its local trend, currently retesting the 200 MA. We expect a bounce off these levels towards the channel's high for a final retest before falling to the bottom of a larger flag pattern.
Traders can go long with SL just below the current channel, and TP near the top, and then short it back down.
If price was to break the top of the channel instead, enter long with TP at the next resistance level.
Traders can go long with SL just below the current channel, and TP near the top, and then short it back down.
If price was to break the top of the channel instead, enter long with TP at the next resistance level.
