GBPJPY bounces from previous highs

Key Support: 152.30
Key Resistance: 152.80 – 153.60

The GBPJPY has rallied 427 pips (+2.87%) since mid last week and yesterday it broke with the previous highs at the 152.45 mark without too much momentum.

During the Asian session price was trading ranging in a 50 pip range and retested the previous highs at the 152.45 mark. After the rejection we waited for the immediate highs to break to buy into this strength.

The bullish flag broke and our Stop orders got triggered. Very simple dip buy setup at the retest of the previous key level and the mid term bullish structure.

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