GBPJPYOur preference: buying position above 145.25 with targets at 146.10 and 146.55 in extension.
Alternative scenario: in break of 145,25, a continuation of the decrease will be envisageable with 144,80 & 144,45 in line of sight.
Comment: The RSI is bullish and militates for a continuation of the progression
Gbpjpytrade
GBP/JPY - 300 Pips+ Long Term Short Opportunity GBP/JPY showed first signs of important weakness. It has moved down under all the ema's on the hourly chart to make it an important movement and could very potentially be a trend continuation pattern.
If it does not hold support at it's current level, then I expect it to go down about 300 pips and more in the long term.
Always trade after your own analysis as well as risk/money manage properly.
Happy trading and wish you the best!
GBPJPYOur preference: sales position below 141.20 with targets at 139.50 & 138.10 in extension.
Alternative scenario: in excess of 141.20, aim for a continuation of the increase with 141.80 & 142.65 in line of sight.
Comment: as long as 141,20 is not exceeded the risk of a depression of 139,50 is important.