Good morning,
Here is my (newbie) view on GBP/JPY this morning.
This morning we have a range between high 184.76 and low 182.64, and the price currently is playing near the low. As always we never know where the market will drive the price to next, but we do have two scenarios here:
1. If the market decides to drive the price higher we can buy as close to 182.64 as possible with stop loss below it and target 184.76 area, although personally I would prefer shorter targer about half that distance. Because I don'nt know and there's never guarantee the price will ever reach that point.
2. If the market decides to drive the price lower and break the low182.64 then we can sell as close to 182.64 as possible with stop loss above it and target 181.63 area, again I prefer half that distance.
Don't forget to lock in some profits when the price is already some distance moving in your direction to guaratee win. Remember to always trust your own analysis and strategy, use my strategy only as reference and comparison.
Well that's it for now, hope it helps and have a nice profitable trade.
Cheers
