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.

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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