managingchaoscapital

GBPJPY - Long entry, beginning of another leg

Long
FX:GBPJPY   British Pound / Japanese Yen
GJ has been falling like crazy over the past week!

This week it looks like it might bring us a set up for a nice long entry:

-Horizontal support (apparent from the chart)
-Hourly chart supper (blue line)
-0.7 reverse fib level
-RSI being oversold on multiple TFs

Looks like it could be a very nice long, do try to enter at about 154.180 which is a bit under fib level (right at black box)

Safe and successful trading!

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