Long GBP/JPY H4
Entry point: 169.50
Stop loss: 168.50
Profit target: 170.50
These days I am bullish on pound against the yen.
After the pair reaches 170.00 level, the closing of the trades pushed the price
down untill 169.33, moment when my trade starts. The EMA’s supports the price and the MACD doesn’t show weakness in the uptrend.
Japan came out with bad data while U.K. printed the same numbers
as was the forecast in manufacturing and industrial production.