informedtrades
Long

Doji Forming in Pullback on GBPJPY

FX:GBPJPY   British Pound/Japanese Yen
151 0 1
GBPJPY             pulls back to the 50 SMA , and the 61.8% Fibonacci retracement level from the recent swing low to swing high. And it's forming what looks like a doji candlestick pattern. I'm also seeing some signs of GBP strength, namely against EUR and AUD, so I figure there are enough signs in place to take a shot on this one. I'm set to go long at 173.73, with my stop at 172.33 and my target profit at the recent high at 178.48.

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