GBPJPY has been confined within a significant trading range, oscillating between 184 and 178 for an extended period of nearly one month.
Currently, there is a noteworthy attempt to breach above this range, marked by a bullish signal on the charts, particularly evident in the presence of a failure swing.
Our strategic approach involves initiating a buy position upon a breakout above the key level of 184.615. In order to manage risk effectively, a prudent stop-loss placement is advised, set below the low corresponding to the observed failure swing.
The envisaged targets for this trade exhibit a promising potential, with a range spanning from 300 to 500 pips at a minimum. This projection is grounded in a comprehensive analysis of market dynamics, aligning with a disciplined and informed trading strategy.
Trade active
TriggeredNote
Running in handsome profits <3Note
Target Hit
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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.
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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.