GBPJPY Potential for Longs
Price is testing the final trend line resistance and has managed to breakout and close above the minor bearish structure on smaller timeframes. We have an inverted H/S formation on the 4H timeframe. There's a good chance price will continue to move higher from here and around the neckline of the inverted H/S price has enough support to bounce should we retest the support below.
Entry: 194.00
Targets: 197.50 & 201.10
Stops: 190.50
Risk to reward ratio is 1:2.
Entry: 194.00
Targets: 197.50 & 201.10
Stops: 190.50
Risk to reward ratio is 1:2.
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