Mase_00_7
Long

GBPJPY Long - 133.200

FX:GBPJPY   British Pound/Japanese Yen
The Pound has exploded higher on Friday and in my experience after such strong movements comes a decent pullback.

I am bullish on the GBP as we are now trading well above the most important moving averages , aswell as having convincingly broken through the Daily 21 EMA.

I am expecting a retest of the D21 and previous structure found at the 133.200 level before going long, with targets up at 134.200-400, with a long-term 382 fib resting around 134.480.

Stop loss will be tight at around 25 pips with a 100 pip target, giving us a 1:4 risk/reward ratio.

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