Trading opportunity $GBPJPY

On a weekly chart, we can see that the pair is testing a strong long-term horizontal resistance 151.540 that was briefly broken to the upside. This fact is giving us the idea of a sell trade with a good Risk-Reward.


The H4 chart is revealing the entry point, the stop loss level, and a target. The entry point should be at this market levels, the stop loss should be above the previous H4 candle just above the 151.500 level and the take profit is 149.400. Potential risk per 1 standard lot is 250$ and the potential profit is 830$.

RR ratio 1:3,5

 

GBPJPY price action trading signal

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