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Long

Possible LONG GBP/JPY developing

FX:GBPJPY   British Pound/Japanese Yen
36 0 0
With the GBP strengthening across the board, several GBP pairs are hitting or approaching the 200 sma on H1.

This is always a significant level.

I'm waiting for a break of the 200 (currently about 158.52) and should we get a retest and hold of the line then I'll go LONG.

Summary
LONG above 158.52 on retest of the 200.
STOP under the 200 (158.28 area).
Target WR1 at 161.20
Trade active: LONG from 158.77
STOP 158.50
Target 161.52
Trade active: Now 100 pips up on this trade.

STOP moved to under today's open at 159.01.

Target 161.20 and then see what price is doing.
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