Price closing above the aeroplane symbol shall be to anticipate GBPJPY going above and beyond, that will allow the setup be 'technically' coherent . Stop loss limit should be discretionary to the trader. GBP is also 'fundamentally' bullish due to the latest record low interest rates announced by The Bank of England. JPY has been bearish ever since The Bank of Japan introduced 'negative' interest rates in 2016, for clarity, the trader may consider the price swings in GBPJPY after 2016, at any higher timeframe the trader may feel viable.
To add more bricks to the wall, a trader might consider watching gold price along with GBPJPY, as asian markets, which mainly hails the fluctuations in JPY, has a correlation to gold's value pricing.
Financial investments are risky and may cause bankruptcy to your investment career. Learn about by risk reading the famous book 'The Black Swan' by famous risk manager Nassim Nicholas Taleb.
To add more bricks to the wall, a trader might consider watching gold price along with GBPJPY, as asian markets, which mainly hails the fluctuations in JPY, has a correlation to gold's value pricing.
Financial investments are risky and may cause bankruptcy to your investment career. Learn about by risk reading the famous book 'The Black Swan' by famous risk manager Nassim Nicholas Taleb.