FX.co ★ ckerluke | GBP/JPY

GBP/JPY. Today we are watching the M15 chart, which has continued the upward movement of yesterday’s trading session. At the moment, we can say the price is in a corrective move around the intermediate range of 214.34, which gives us a good opportunity to enter long positions at more favorable prices. I see the first take-profit level at the high of 215.24, and a confirmed signal to enter the market will be a consolidation above the high of 215.51. In that case, the first level to work out can be considered the bear zone at 215.12. We also cannot rule out a return of the instrument below the support at 213.70, from where the impulsive spike started. A consolidation of the currency below the low of 213.40 is where I will make a decision to enter short positions.