FX:GBPJPY   British Pound / Japanese Yen
70 1 0
We are long the GBPJPY             . From 172.10
The Gap created during the weekend has been filled, price initially moved up to 172.60 after holding the 172.11 zone for some time. This price action is a strong indication that it is time to move further up. We target 172.67 first and if it manage to break 172.67 we are expecting a test of 173.48.
Stop loss is 172.00.
Quick update on GJ, We have moved our stop to break even on this pair. Price is currently finding it difficult to break the 172.50 barrier, the signs looks good but we keep our eyes open.
We only think of shorting this pair below the 172.10, anything above this point we remain bullish. Happy Trading....
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