GBP/JPY

Hi Traders

GBP/JPY Multi-Timeframe analysis

H1 Chart (Bullish)

Target 1 at 154.235 has been reached. We closed 50% of our position and have moved the stop loss at the lock-in-profits level at 154.014 . Provided the market conditions will remain the same Target 2 will be reached soon.

Support & Resistance
153.964 154.235
153.597 154.326
153.453 154.417

H4 Chart (Bullish)

The completion of a trend reversal formation at 153.939 has forced us to close our position earlier than we had planned. Now we are looking for the next opportunity to enter the market.

Support & Resistance
153.131 154.014
152.387 154.535
150.855 155.418

Daily Chart (Strong Up)

Waiting for a retracement lower towards the 152.534 support level, in order to reinstate LONG positions. Next important support is the 150.427 level

Support & Resistance
152.534 154.417
150.427 155.969
148.511 160.325

Weekly Chart (Strong Up)

Waiting for a retracement lower towards the 142.699 support level, in order to reinstate LONG positions. Next important support is the 139.724 level

Support & Resistance
142.699 154.417
139.724 158.070
131.748 173.827