AshtonHunt
Long

Possible channel break for GJ, move up before a retest?

FX:GBPJPY   British Pound / Japanese Yen
GJ has been a focal point of my weeks trading, although its been very counter trend and choppy its still had some really good trading opportunities inside the bearish channel on the h4 (not on this photo). Now price has broke out of the bearish h4 channel and is looking as if its going to break north. Price is currently in a bearish D1 channel but if the momentum continues from the h4 we could see this broken... We are also in a bullish channel on the longer term and I look to capitalize with a long from the lower trend line at a later date. Until then we can take this nice 1-1 RR trade that can see us a long to the 1st resistance line. I will be ensuring all trades are off of the table at this point and wait for a reversal... Only time will tell with this setup but as I say GJ has been respecting the channels quite well recently.
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