This currency pair managed to stay above the 1.2600 support for a prolonged time, therefore the pair remains in upside configuration, I've placed a buy above the 1.2916 confirmation level, for targeting 1.326x level (almost 141.4 Fibonacci of the upside movement of 1.2061-1.2916). Stop loss is placed on the 1.2600 support level.
GBP/JPY confirmed it's upside bias when the price was closing above the confirmation rectangle, initially, the currency pair was situated above the 137.22 pivot level and only needed a confirmation for entering long, targeting 145.91 (127.2 Fibonacci level of the 126.43-141.74) - my entry was a little late - it should have been around 141.5 but I've decreased the...
USD/JPY is still situated over the 111.2 pivot level, the should have been placed on the confirmation made by price closing over the confirmation rectangle, but it hasn't reached the 114.94 (141.4 Fibonacci level of the upside move 101.183-110.916). The stop-loss should be placed on the nearest pivot level: 111.2
The price remains into the upside bias (it is situated over the 89.37 pivot level) and will, possibly, continue its initial upside move towards 98.47 (141.4 Fibonacci extension of the upside move of 69.03-89.85). A suitable stop-loss/exit of long position would be on 89.37 pivot level.
