[rufffen]

GBP JPY update 4 hour chart

GBP JPY wild swings lately! What a chart. Just checking 4 hour chart, there is a more than a decent R/R trade setup, a potential LONG worth little over 600 pips mid-term. Have a look at the chart and be prepared to go LONG.

Hard to pinpoint a decent entry, position traders can jump in at current prices, althouth SL will be set below recent lows at 224, which is a 300 pips exposure, so might as well wait for EUR USD and GBP USD monday opening to set direction for the week, best to buy slightly below current levels (227.30).

Try to make sure your R/R is at least 2:1, I normally never trade anything below 3:1, however this opportunity looks fairly decent to me now.