It seems that my first idea to buy yesterday was correct as I was stopped out a couple hours ago with that big spike. Sometimes it's better t ogo with your heart than the book, deciding when to do so is extremely difficult. A loss of 50 pips was taken.
Tonight I will buy GBP/JPY around 128.30 with a TP target of 128.90 - 129.00 and SL 127.70 - 127. 80.
I would like to explain my trade as usual but I am battling a massive headache so I will keep it shorter than usual.
The daily chart is basically looking oversold and is testing support below 128.00. 1 hour - 4 chart is looking constructive as new highs are being formed and the next resistance is around 128.80 - 129.00.
The shorter time frames have broken the 100 EMA and look set to pop higher atleast once more. The 129.00 might bring out some sellersso my advise would be to TP close to that level.
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