GBPJPY: Longs in play
You must think I’m crazy because I’m looking for a trading opportunity in the GBPJPY after last Friday movements. But you know, it was different in the GBPJPY, movements were clearer and it retraced exactly at long term important levels, so it is probably a good idea to look for a trading opportunity here.
Anyway, the GBPJPY was rejected from an important long term support level and now it is trading in a bullish market condition.
My Trading Plan
As long as the Pound-Yen continues to trade above 150.20 I will be looking for long trading opportunities. All TP orders will be placed around the next resistance level at 153.13
All short opportunities will be ignored.