Trading suggestion:
. There is a possibility of temporary retracement to suggested support line (129.06). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. GBPJPY is in a range bound and the beginning of uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 41.
Take Profits:
TP1= @ 131.00
TP2= @ 131.60
TP3= @ 133.00
SL= @ 128.00
. There is a possibility of temporary retracement to suggested support line (129.06). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. GBPJPY is in a range bound and the beginning of uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 41.
Take Profits:
TP1= @ 131.00
TP2= @ 131.60
TP3= @ 133.00
SL= @ 128.00