GBP/JPY ... GOOD OPPORTUNITY !!

Hello Friends, 

Back Again with a Good Opportunity, 

Currency Pair : GBP/JPY 

The Pair is Volatile and Moves Big, Now Most of the News seems to be done and the Pair is Expected to Move on it's own.. 

This is a Daily Chart showing the Pair has done breakout on a Longer term and Now completed the retesting of the breakout trendline. Ready for the Next upmove, The Pair is currently trading above 23.6 retracement of the recent fall from 195 to 123 levels. The retracement is expected to continue till 38.2 extension level at around 151. a Minor Resistance at around 142.45 level will be small hurdle in the way.   

The Pair as we have seen in the previous chart is expected to move higher, while reaching our short term target the pair will form a Chart Pattern "Inverted Head & Shoulder". The Pattern is One of the most successful Patterns, if the Neckline which again will be around 151 level in near term is crossed, We might see a Big upside in Near Future. 

The Stoploss for all Longs will be around recent low of 137, The Risk Reward in this case is amazingly good, Nearly 400 pips Stoploss and target of around 1000+ pips. The Pair may take time to complete the projected move, but it will be a Huge Gain !! 

Recommendation :

GBP/JPY

Buy Limit : 141 and if dips till 139
Stoploss : 138
Take Profit : 142.40 - 145.20 - 148 - 151.60 

Risk : 300-350 pips
Reward : 1000 pips approx 

Risk : Reward of 1:3 is good for taking a Trade. 

Please, Consult your Financial Adviser and Follow Strict Risk Management, Consider your account size and risk before entering the trades. 

The Adviser is a Technical Analyst and Global Market Expert.