GBP/JPY Levels Like… (Oh, We’ve Done this Headline Already!)

Good morning traders,

With the Yen crosses all showing the similar bullish trend line and stepping up patterns, I wanted to jump back across to our old friend GBP/JPY.

We’ve been following this GBP/JPY price action setup for a while now and just like the EUR/JPY setup that I linked to in paragraph 1, price continues to retest previous resistance as support and step up in textbook fashion:

GBP/JPY Daily:

Click on chart to see a larger view.

These types of setups really are a risk manager’s dream and I hope that you’re taking advantage of the opportunities that are continuing to be gifted to you by the markets.

Find your levels, trade your levels and manage your risk.

Best of probabilities to you!

Dane Williams – Vantage FX

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Source: Vantage FX Blog