Patiently seeking for the Possibility of entering this GBPJPY Long setup.
--Reason why: PoundYen been declining since mid July, however i still believe the fall for pound is still not over this may be a possible area where price may begin to retrace.
-- Waiting on a possible confluences of a break in resistance to justify the breakout in structure. -- 76.4% Since adjusting the new swing low and swing high u can see how price has rejected of the 76.4% level until it re-tested the support trend-line
-- My Aim For Getting In Long on this pair will be based on a Candle close above 0.764% and 132.386 which is a major resistance area
-- Target 133.888 Possibility of MAJOR resistance area or hit of the golden 61/8% ratio
Price close above the area i will add another positions and aim to swing the pair to 137-138 price area.
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--- Update on GBPJPY, Importance of being patience, finally got the close above 76.4% however price is currently struggling to break the resistance area, which i posted i will only enter long when resistance is broken, will be patiences until that area is broken before entering a long positions.