GBP/JPY:  Current 137.63.

The pair should move up to 138.50 today but there is no good trade configuration for short-term trade at current price because of possible volatile movement.

We are not taking any position at current level but have a limit buy order at 137.10 with a stop-loss at 137.60 (-40 pips) and take-profit target of 137.80 (+80 pips) first and then 138.20 (+120 pips).

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For longer-term trades please visit weekly analysis under “Trading Approaches” for this currency pair.