PoundYen has been in a progressive uptrend over the last year. Looking for a long opportunity at support ( both horizontal and trendline) around 1.48. A stop would be considered beneath the 200 MAV and the S3 monthly pivot.
The target is chosen to be at
1. Between the .50 and .618 retracement of prior major swing.
2. At next significant horizontal resistance.
Suggested trade is on chart. The risk reward is 3+