Gbpjpy has touched 200 ema on h4 time frame. This can be good resistance level for this pair. At the same time, stochastic is staying also on overbought area. If price starts falling from 80 level, then we can expect sell on this pair.
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For sell, we need to get bearish confirmation on this pair. Then we will recommend to take sell entry on this pair after getting bearish confirmation. Stop loss will be 129.50 level, target will be 100-200 pips for sell entry.
On the other hand, above 129.50 level, we will recommend to find buy entry on this pair with 50 pips stop loss and 100-150 pips take profit.
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