GBP/JPY: SIMPLE ANALYSIS, 2ND POTENTIAL TARGET,

In this chart you can identify the pullout has been taken into effect. Furthermore, the second target is the trend breaking out towards structure levels, I have also identified that the trend may use a pullback effect in order to maintain the waves channel. This may also be an advantage, considering long set ups. Whereas you can see a reversal after the target has been hit, this is another pullback structure method going down to the trends previous structure.

Opening point: 133.092
Target point: 135.780
Exit point: 131.602

Trade closed: target reached:

target hit waiting for reversal