Hello Traders good to be back with you as today we look at the GBPJPY 60 minute chart. Well to start I am not trading a USD pair today as I am waiting until Monday when the market settles after the Fed and interest rate decision. Ok let us take a look as we can see this pair is at resistance and we are just below the physiological level of 114.00. I am look at a trend line break to the downside and a close below and a possible retest of the trend line but not needed to make our entry. So I am looking to enter the trade at the price level of 139.75 as marked on the chart.We are looking to take our profit at the support price level of 139.20 for a nice 50 pip trade if this works in our favor.
Thank you traders and have a safe and happy weekend, we will talk soon…..William