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ImreSG

GBPJPY Playbook - Will 139.000 Key Level Hold?

British Pound / Japanese Yen (FX:GBPJPY)  
ImreSG  
FX:GBPJPY   British Pound / Japanese Yen
Trend Analysis Chart Patterns GBPJPY gbpjpy_outlook gbpjpyshort gbpjpylong
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trendanalysis chartpattern gbpjpy gbpjpy_outlook gbpjpyshort gbpjpylong
snapshot

As GBPJPY approaches the 139.000 key level, I am looking for a bounce or a break. If price bounces then we will be looking to go long with an initial target of 141.000 and an extended target of 142.000.

If we see a break of the key level, I will be waiting for a re-test of the 130.000 level to confirm its validity as resistance and set a short targets for 138.000, 137.000 & finally 136.000


I will update this idea if an actual trade setup forms.
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