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Price Action Setups: GBPJPY Highest Close Since 2008

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GBPJPY had a stellar day today, closing at a level that hasn’t been seen since 2008!

I would typically say look for a pullback to the 174 area for a price action buy signal, but given the strong bullish momentum and today’s close I’ll be watching 174.80 as an area to potentially buy this pair.

gbpjpy daily forex chart

Our target of 95.80 for CADJPY was hit today. The initial bullish pin bar was discussed here.

Considering the current momentum and today’s close, it’s likely that we’ll see higher ground from here.

CADJPY loves to move sideways after a new high, so let’s wait and see if we get a price action buy signal at this level in the coming days.

cadjpy daily forex chart

Last but not least, I like GBPAUD higher from here. The pair is coming off trend line support from July of last year (see last chart) and today had the highest close since March 16th.

We’ll have to wait and see what we get over the coming days.

gbpaud daily forex chart

GBPAUD trend line

gbpaud daily forex chart

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