GBPjpy Going South

Hi everyone,

Today we shall be going South with GBPjpy
We have Entered at       147.316
We will take  Profit At 146.970 that is about 26 Pips
This will not stop us taking our 10 Pips at 147.175..

We are also monitoring the congestion at 147.321 Price Level . Once that congestion is broken it will hit the next Support and take decision whether to turn back to the North or continue its journey to the South. This is because the Price Level 146.970 is a major Support Level . Looking back you will discover it has acted as a \Resistance Level  Before So we are believing a major decision will be taken there and not at the present Level.
This analysis is based on 4Hr Time Frame

See what we are talking about on the Chart below

So we are watching at the  Forex Mechanic Workshop

So see you later guys.