Trade setup: GBP/JPY analysis
Price has clearly overextended into the region of the yearly low of 135.67 which we previously tested but managed to hold, seen as this is an institutional demand zone we've had daily rejection around this region suggesting that buyers have taken profits and sellers may be looking to reverse the market, however price could consolidate around this region for a bit longer and create stop hunts since its such at a key level, positive fundamentals(CPI) from GBP may be the boost needed for GBP to build momentum to move higher.
Great risk-reward trade of 1:3 ratio, targeting key psych 140.000
Great risk-reward trade of 1:3 ratio, targeting key psych 140.000
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