SimpleFxPRO

GBPJPY long trade H4 - Counter trade idea

Long
FX:GBPJPY   British Pound / Japanese Yen
Here we also see GBPJPY bouncing off the lower channel support which is also around 50% fib retracement ( 129.889)

Possible short term bounce to around 130.923 as TP1 or even 131.960 which will be confluence with upper channel resistance

Also note that 131.960 level has been recently tested multiple times as support and resistance , so this would be a level for TP2 that I am watching for possible down trend continuation