Currently, GBP/JPY is trading at 138.08. The pair may start a new down trend if it breaks the support level at 136.45. Previously, the pair was making higher high lower low pattern in the resistance and support wedges. If the pair starts a new down trend after breaking the support level, then its first target price will be at 134.22 and second target price will be at 132.16.
Follow a proper risk management strategy to avoid unnecessary losses and to increase profitability, don't risk more than 2% of your capital on each trade.
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Thank you,
Rishikesh Lilawat
Follow a proper risk management strategy to avoid unnecessary losses and to increase profitability, don't risk more than 2% of your capital on each trade.
Do follow us for future Forex trend analysis and Ideas.
Thank you,
Rishikesh Lilawat