GBP/JPY - Ichimoku Long Reversal Setup

Aug 26, 2018

This pair has broken out on the 4 hour here but is still bearish on the daily time frame. The way this is moving right now I am considering that we may have an early reversal possibility here. I would like price to fall one last time and hold support to consider entering a long which is why I've drawn my entry down at the cloud. If it is a reversal then we may actually see GBP reclaim a lot of ground and it would be a good potential swing trade. IF this turns out to be the case I've drawn out a few take profit levels with my long term swing target at the top.  If we fall and hold hold support, then my bias will shift back to the bearish trend on the dai