GBP JPY Retracement Highly Expected
Hello Friends!
GBP JPY has pushed up a lot and now a good deep retracement is highly expected. Overall it shall continue its upward direction but for a week or two, we may observe retracement phase.
Although it making new highs but now we see a prominent break in daily graph. So its better to figure out the momentum break before time and spot possible short entry opportunity.
To me:
Possible Short Entry Zone: Between $154.35 and $154.50
Possible Short Take Profit Zone: Between $152.38 and $152.05
Stop Loss: Above the high of Entry Zone or where you are comfortable.
Good Luck!
Happy trading
GBP JPY has pushed up a lot and now a good deep retracement is highly expected. Overall it shall continue its upward direction but for a week or two, we may observe retracement phase.
Although it making new highs but now we see a prominent break in daily graph. So its better to figure out the momentum break before time and spot possible short entry opportunity.
To me:
Possible Short Entry Zone: Between $154.35 and $154.50
Possible Short Take Profit Zone: Between $152.38 and $152.05
Stop Loss: Above the high of Entry Zone or where you are comfortable.
Good Luck!
Happy trading
