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GBPJPY Buy Signal Update

GBPJPY Buy Signal Update

GBPJPY – Pullback Level Holding Yesterday in our weekly market commentary we suggested looking for taking long signals off of 157. Today the pair hit a low of 156.93 and has now shot up over 80 pips higher. This setup was taken by many in our traders forum so hopefully you have either taken some profit or brought your stop to BE (breakeven) at this point. For now the pair looks solidly on its way to the first target at 158.25 with a potential breakout higher targeting 160. Any longs should have all risk completely neutralized so no risk on the table. Bears can watch for weakening at the swing highs but we are only interested in longs at this point.

GBP/JPY

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