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michael6malone

I am going long to the 135.50 level.

Long
British Pound / Japanese Yen (FX:GBPJPY)  
michael6malone Updated   
FX:GBPJPY   British Pound / Japanese Yen
3
0
2016Sep12 I am going long to the 135.50 level. I would have pushed it to the 38.20% fib, but the resistance that starts at 135.50 has me concerned. I placed my stop at 134.97

Just dropped approx 80 pips in a short time so I would normally expect a retracement to at least the 38.20% fib level.
RSI is reaching the oversold level.
Comment:
Target reached. And it exceeded the 38.20% Fib level.
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