The GBP/JPY pair continues to be one that I believe a lot of traders are sleeping in. The thing I like about this market is that the GBP has been waking up for some time now – and I think that we are getting close to a very long-term move higher. At the same time, the Yen will sell off due to Bank of Japan interest rates.
Risk 0.66%
Can be taken any time.
Long Trade 1
Buy GBP/JPY above 141.60
Stop loss at 141.20
Take half profit at 142, full target is 145
Today’s GBP/JPY analysis:
The British Pound has been doing well lately, and I think this will continue. At the same time, we have seen a significant pullback in the XXX/JPY pairs, and now I believe that we are able to continue to build momentum higher because of this. The trend line I have on this chart shows the overall support going forward.
Due to a light economic calendar, I don’t see any potential conflict with this pair in the realm of news.
