Two Bullish Opportunities GBPJPY
2020-02-10 08:09:35
After price finally broke above the 141.10 level of resistance it started to treat it as support on both the weekly and daily timeframe. We have two opportunities presenting themselves on this pair. We have a shorter target to the 144.34 level or a longer target to 149.79. There is a descending trendline forming a bullish pattern. the level of structure also lines with the 78.6% daily fib level.
As always we are waiting for our entry conditions to be met before entering.
The risk to reward is
Trade one (shorter) - 1:5.96
Trade two (longer) - 1:3.36