GBPJPY: Buy Setup at Key Support Level

Looking at the higher timeframes what we may see is that the downtrend is showing signs of weakness with support levels stepping up. In addition to that, we see a bullish divergence in RSI another tell the downtrend is losing its momentum. From structure, we draw an upsloping median line set with a valid slope and we already have the sliding parallel below the lower one acting as support. In case we have the retest of the sliding parallel it will be a nice idea going long with GBPJPY. Sl and tp as shown in the chart.

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Trade with care,
John

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