GBPJPY - 22.11.2023

The pair was consolidating just below the trend line which had a resistance just above at 186.162. It was appropriate to take a buy once it broke the trendline, as it had a resistance above, we need to look for buy and sell when the pair come close to the resistance.

As the pair broke the resistance, took a buy trade on candle close and kept a strict stop loss and a target of 1:3 risk to reward ratio and now the stock is heading towards daily resistance of 186.725.