Day trading strategies on GBPJPY 11-7-2016 by AzaForex forex broker, fantastic forex tips and tricks for everyone

For the love of trading foreign exchange tips and techniques.
British Pound slightly improved its position in the forex market in recent days. On the chart of the currency pair British Pound and the Japanese Yen is seen with the naked eye, that the prices began to rise after a long downtrend. And all this is not because of positive news in the economy of the British Empire, but rather, because Japanese Yen very rapidly lost its power and fall against many currencies traded in the currency market. Such growth could well continue for another 170 points, if the bulls will be more insistent. In front of the presidential elections in the United States, this pair can be a good refuge for many traders and investors, since it is not tied to the US dollar. Those shocks and surge in volatility, which are almost inevitably to happen to the currency pairs, which will be part of the dollar, can ignore the other less popular currency tools. And if you rely on technical analysis to the level of setting our goals there are no visible obstacles. Therefore, we will open a long position, once investors start actively buying British Pound.

The price is above a simple moving average 200 MA and 20 MA indicating bullish trend.
The MACD trend indicator is above zero level now, indicating bullish movement.

If the resistance level is broken you can use the following recommendation:
•    Chart timeframe: H4
•    The trade recommendation: Buy
•    The level of entry into long position: 130.30
•    The level of profit and close the position: 132.00 (170 pips)

Metal GOLD 
Possible bearish movement in the breakdown of the support level 1283

Forex currency pair GBPUSD
Possible bullish movement in the breakout of the resistance level 1.2560

Forex currency pair USDCHF
Possible bearish movement in the breakdown of the support level 0.9720

Forex currency pair EURUSD
Possible bearish movement in the breakdown of the support level 1.1040