GBPJPY: Bullish market condition, Long trades in play
Last Wednesday I wrote about the GBPJPY, we were waiting for the pound-yen to break the short term range, and guess what?… it just broke that range:
The GBPJPY broke the short term resistance level setting us up for a bullish market condition.
Here is my plan:
As long as the GBPJPY trades above 144.12 I will be looking for long trade opportunities. My next LT resistance level is at 146.65
All short trade opportunities will be ignored.