GBP/JPY Swing Trade – End of 2024 (Best Way to Buy)

Analysis:

GBP/JPY shows potential for an upward move based on harmonic patterns and Fibonacci levels on the daily chart. The current trend is retracing higher after finding support at 188.088 and testing resistance around **197.302**.

Entry Setup:
- Wait for a pullback to the 195.333 - 197.302 zone (61.8% and 78.6% Fibonacci retracement levels).
- Look for bullish candlestick patterns like pin bars or engulfing candles to confirm entry.

Profit Targets:
TP1: 202.065 (78.6% Fibonacci resistance).
TP2: 203.000 (1.272 Fibonacci extension).
TP3: 207.056 (1.618 Fibonacci extension) for medium-term potential.

Stop Loss:
- Conservative: Below 195.333.
- Aggressive: Below 188.088 for stronger protection in case of failed breakout.

Conclusion:
This strategy leverages pullbacks for entry in strong support zones, with layered profit targets and tight stop losses. Focus on confirming signals before entering to minimize risk and maximize profit potential by the end of 2024.