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British Pound / Japanese Yen
Long

GBPJPY: The Retracement is over

By FrenchIvory
Updated
Price broke above and rejected that 155.950 daily resistance level, multiple daily wick rejections as well as what can be identified as a triple bottom on the 1H prompted me to take the trade. The final trigger for was that mini support/resistance level on the 1hr (156.450) getting rejected. I put my sl right below for 20 pips (which is a bargain for GJ) totaling a 1 to 8 risk to reward ratio.
Trade active
TRADE STILL VALID for those with more conservative SL (meaning below last higher lows, 155.640.)
Chart PatternsGBPJPYgbpjpyanalysisgbpjpybuygbpjpydailygbpjpylonggbpjpysellgbpjpyshortSupport and ResistanceTrend Analysis
FrenchIvory

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