GBP/JPY Is there another long trade?

Aug 14, 2023

Good morning traders! On GBP/JPY, we have a new long setup following Friday's trade. The price seems to have reacted overnight in the highlighted yellow key zone at the 183.62 level, where there's a high concentration of orders and a strong potential for a reversal. Today, there are no significant macro data updates expected, so I anticipate a possible retracement to the 183.50 level. There, I will evaluate re-entering the market long with a potential target at the 184.300 level. Of course, I'll always await my strategic confirmations: an H1 close above the point of control (POC) with an immediate market reaction. Comment and leave a like to support our efforts. Have a great day, Nicola the CEO of Forex48 Trading Academy.