GBPJPY continues to exhibit strong bullish momentum, with price action aligning with the prevailing uptrend. The pair is projected to advance towards the identified target zones (TP1 and TP2) as marked on the chart. A stop-loss level (SL) has been defined to manage downside risk effectively.
Traders are advised to monitor key support and resistance levels for potential confirmations as the setup develops.
Traders are advised to monitor key support and resistance levels for potential confirmations as the setup develops.
Order cancelled
The previous GBPJPY buy stop setup has been invalidated as price opened with a gap down, disrupting the bullish structure. We will remain on the sidelines and wait for fresh price action to present a valid entry point in alignment with the prevailing trend.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.