Second Buy Recommendation - GBP/JPY to 194-194.5I. Market Overview
GBP/JPY did not move as expected yesterday, but the overall uptrend remains intact.
The price has retested the 190.4 - 191.0 support zone and reacted positively.
Buying volume has increased significantly at the lows, indicating strong demand.
EMA 33 and EMA 50 on the H4 chart are still trending upward, supporting the bullish outlook.
II. Trading Strategy - Additional Buy (BUY 2)
1. Entry Points
🔹 BUY around 191.0 - 191.5 if the price continues to show positive reactions.
🔹 BUY more if the price revisits 190.4, as this remains a key support level.
2. Stop Loss (SL)
❌ Place SL below 189.8, as breaking this level may invalidate the uptrend.
3. Take Profit (TP) Targets
✅ TP1: 192.5 – Close 50% of the position and move SL to breakeven.
✅ TP2: 194.0 - 194.5 – Fully close the remaining position.
4. Risk Management
Risk-to-reward ratio (R:R) is approximately 2.5:1, suitable for swing trading.
If the price surges sharply, adjust the strategy based on real-time market movements.
III. Conclusion of Ngohungsky
Recommendation to continue buying GBP/JPY in the 191.0 - 191.5 range, with additional entries near 190.4 if necessary.
Targeting 194.0-194.5, but will partially take profit at 192.5 to secure gains.
The main trend remains bullish, so patience is required.
📌 Stay updated and adjust the strategy accordingly! 🚀
