GBPJPY: Multi Timeframe Analysis & Trading Plan

Mar 19, 2020

Top-Down Analysis:

pound yen is trading on 2016th's structure low.
on 4h the pair has just reached a support line of a falling channel
and on 1H we see a clear unwillingness to push lower.

Chances are high that we will see at least a pullback to a resistance of the channel

Trading Plan:

on focus in the indecision range on 1H.
wait for a bullish breakout of the range to buy the pair.

Initial target will be 127.8
second target 130.1

good luck!

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Mar 19, 2020

Trade closed: target reached

T1 reached