Description :
Looking at the H4 chart, my overall bias for GBPJPY is bullish with the current price being above the Ichimoku cloud. To add confluence to this bias, price is along an ascending trendline.
Looking for a buy entry at 161.710, where the overlap support is. Stop loss will be at the overlap support at 159.330. Take profit will be at 169.221, where the previous swing high was.
Trading Recommendation
Entry: 161.710
Reason for Entry: Retest overlap support
Take Profit: 169.221
Reason for Take Profit:
Previous swing high
Stop Loss: 159.330
Reason for Stop Loss:
Previous overlap support
