Long

possible long setup

75
GBPJPY has experienced down movement in the past few days and has now reached to a level where I believe a bounce required.

It has just managed to hit into the previous strong support zone and immediately bounced back up. I expect it to go down a bit further possibly to seek for SL and then go straight back up.

SL: below 151.35

TP: fib based, targeting 151.867 which is fib based; however it has potential to go much higher reaching the upper edge of the channel (second green line)

GL

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