Long GBP/JPY between 150.36 and 150.12 if the price reaches this level before Midnight GMT today. Take 85% of the position as profit at 151.49, move the stop to break even and allow the remainder to run further.
Day traders should wait for the price to return to 150.36 and look for trades from fast long breaks of inside or engulfing bars on the 15 minute chart, being prepared to enter more than once if necessary, but not more than three times. After one 15 minute bar closes below 150.12, the signal is invalidated.
Traders that cannot be near their screen should set a limit buy order at 150.36 with a stop loss at 149.95, expiring at Midnight GMT tonight.
