GBPJPY Breakout Pullback Structure on Daily | Nov 14th

GBPJPY – Continues to Build The Upside
Still truckin’ along, the GBPJPY today broke out of a major resistance level at 159.88 that’s held the upside in check for almost two months. With the 20ema carrying price action for the last 6 days, and now clearing that resistance, I’ll be looking for a breakout pullback setup at 159.90, so only a bullish bias here until we get a daily close below 158.50. First upside target is 162 which goes back to the June 27th high, and a second upside target of 162.84 which is the high for 2009.

gbpjpy breakout pullback setup key level 2ndskiesforex

Make sure to check out our latest article 9 Questions For Traders

Want More? My private members get all my trade ideas & market commentary up to 3x per week. Click here to become a member.

Verified Profitable Trader

Hi, I'm Chris Capre, Founder of 2ndSkiesForex. I've turned $3,000 into $83,000 in my first 6 months of trading. I'm a verified profitable trader and trading mentor. I help traders of all levels change the way they think, trade and perform. As a professional trader, I specialize in trading price action and the Ichimoku cloud. As a trading mentor, I have one goal: to change the way you think, trade and perform using 18yrs of trading experience and cutting edge neuroscience to wire your brain for successful trading. Want to improve your trading edge and mindset? Check out my trading courses here.

Related Article