GBPJPY is testing the upside resistance
GBPJPY is testing the upside resistance, a falling trend line, and a horizontal resistance of 140.30. A confirmed break above 140.30 will give us a higher probability of the long trade entries. A rejection here is now required for downside reversal and a pullback. The overall medium-term is an uptrend but we need to see a confirmed break above 140.50 for upside continuation. Wait for the price action setup.
Note – We are inclined to long trade entries with the stop loss below 140 on a clear confirmed break above 140.30.
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