GBP/JPY Trading Analysis (06/05/2024)

The trend is ascending. The currency pair is traded in the range between 365 and 135 ЕМА. The downward inner truncated wave structure finished. There is a bullish divergence on the Awesome Oscillator, and the moving averages of the Stochastic Oscillator are out of the oversold state.

Trading idea:

Buy when the formation of the ascending wave structure begins.

Stop-Loss at 191.33.

Target price levels at 195.73 and 197.40.

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