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GBPJPY - Long

Long
British Pound / Japanese Yen (FX:GBPJPY)  
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FX:GBPJPY   British Pound / Japanese Yen
Multiple Time Frame Analysis Support and Resistance Double Top or Bottom GBPJPY beast gbpjpylong gbpjpyanalysis gbpjpyforecast countertrend pound sterling yen
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mtfa supportandresistance doubletoporbottom gbpjpy beast gbpjpylong gbpjpyanalysis gbpjpyforecast countertrend pound sterling yen
GBPJPY has hit the monthly bearish target early in the month and so we are expecting to see a nice rally up to the 134.000 level with a potential 500 pips on the table.

We have a nice 4 hour bullish engulfing candle so we are waiting for price to pull back into support before looking at long opportunities going into tomorrow.

Stops will be below the low and as already mentioned, target will be just short of the 134.000 level.

Trade safe!

Cheers, Paul.
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