GBPJPY on the daily timeframe this pair is still showing downward motion as I see price created a lower high and on jpyx price is moving in higher highs and higher lows showing good bullish movement, so with this confluence I placed my first entry on the 191,000 zone sl be at 191,200
GBPJPY As analyzed yesterday, the market has rejected my identified one-hour order block and moved down to a symmetric triangle support area, as anticipated.
This area presents a strong opportunity for a long position, given the confluence of support levels. A proposed trade setup would involve: • Entry: Current level around the support zone. • Stop Loss: Set at 190.3 to manage risk. • Take Profit: Targeting the upper weekly channel at 192.647.
This provides a favorable risk-to-reward ratio for this trade.
Trade carefully and stay disciplined!
Let me know if you’d like any further refinements!