300 Pips Profit booked in GBPJPY, now wait for a better entry
Previously, on 4 March 2024, we sold GBPJPY at the 191 level and managed
to take 300 Pips profit when price dipped to 188.
Since then, GBP/JPY is staging a recovery. Currently, the price action doesn't support
any further selling. Also, with FOMC around the corner, we recommend traders
to be careful with their trades.
However, if price reaches the 191.50-192 zone once again and we see signs of bearish
rejection candlesticks, we will consider selling GJ again with TP at 188 and 185 respectively
to take 300 Pips profit when price dipped to 188.
Since then, GBP/JPY is staging a recovery. Currently, the price action doesn't support
any further selling. Also, with FOMC around the corner, we recommend traders
to be careful with their trades.
However, if price reaches the 191.50-192 zone once again and we see signs of bearish
rejection candlesticks, we will consider selling GJ again with TP at 188 and 185 respectively
Comment:
We believe current price is not fit for putting any fresh buys or sells, we must wait for a key level
Comment:
As we had mentioned yesterday, Price has reached 191 again