The GBPJPY is trading in a bullish market condition, earlier this morning the GBPJPY broke through the short term resistance level triggering a bullish MC. What is most interesting though is the weekly chart:
GBPJPY
The GBPJPY is trading near a W support level, and the next LT level is at 150.44… so what do you think? Would you hold your trade for a month for the possibility to get 900 pips??? Tricky isn’t it? Remember we are talking about the weekly chart here, and there are 1D levels in between.
What would you do?
Trade Safe
Raul Lopez
http://www.straightforex.com/
Tags: Forex Crosses, GBPJPY, GBPJPY analysis