GBPJPY buy the break

FX:GBPJPY   British Pound / Japanese Yen
188 0 5
I'm already long this pair from Monday but did not take profit yet because my minimum target is 162.82. That target has been missed by a few pips. But that's okay because I will follow my plan. I also think that 165 will be the more likely target. This will therefore provide another buy opportunity and possibility to add long. I will be looking for the bullish break. If it accelerates lower I will trade the other way around and use consolidations to get out of the trade. Stop loss is already at break even.

updates will follow.


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Comment: Minimum target has been reached which was the previous high. However I believe that the GBPJPY is not yet done and I will look to buy the continuation IF we see a consolidation of lesser degree towards 165. Once this wave C is over I will be looking for a reversal but updates will follow.

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