fxmentorbd

GBP/JPY: Wait for Triangle Breakout

FX:GBPJPY   British Pound / Japanese Yen
Gbp/Jpy create nice triangle in H4 TF . Its now stay above 50, 100, and 200 EMA which is indicate its now try to going upward mode. We can wait for this triangle breakout, if its breakout up, than I think gbp/jpy next target is 184.871 and if its break this level next target is 186.117.
If did not wait for breakout , we can take this long position from 181.295 (strong support) - 180.500 and possible set stop loss is 100 pips. Where 181.295 is strong support for gbp/jpy pair.

So, keep eyes on it. Best of luck !!!

Thanks.
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