On our market watch, today is GBPJPY. The pair has bounced, early this week, from the retest of the broken long-term Pitchfork downside channel 149.600 level as it is shown on the weekly chart below.
This could be a good long trade entry opportunity ahead of BOJ. In case the long trade as proposed below will be stopped out at the key 149.650 level, then the short trade entry could be triggered for a downside extension into the 147.460.
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