GBPJPY Trade Idea

GJ is currently in an uptrend, showing higher highs & lows sequence. However, 142.500 is a key daily resistance to determine the long-term directional bias on the pair. As the current price action of GJ is slightly choppy and grinding sort of uptrend, avoid breakout setup unless 142.500 resistance zone is clearly breached. We'll have to wait patiently for price to react at that zone, if there's a strong bearish rejection at 142.500, we could expect short-term reversal back towards 139.77 support zone.

Trade safe.

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