GBPJPY:
The chart shows the movement of GBP/JPY in the four-hour (H4) chart.
The advantage of cross-rates is their volatility and the ability to most accurately conduct a technical analysis of their dynamics. This review, for instance, attempts to calculate the local high of the pair, as well as the good price levels for buying and selling.
Currently, the best area to enter the market is below 166.00, while the best level to exit (TP) is approximately 163.70. Set stop loss (SL) at 166.4 if the quote exceeds 166.4. That would mean that the trend will no longer turn around.
