Trading for the currency pair GBPJPY

  • Jan 10 2017
Trading  for the currency pair GBPJPY

Trading strategy and signals for the currency pair GBPJPY

Learn how to become a successful foreign exchange trader.
The rate of the British Pound yesterday seriously lost its position in the Forex market. Nearly all currency pairs traded with the Pound showed a strong drop. With respect to certain currencies, the Pound dropped a lot, with some - not much. But the Japanese Yen recaptured enough of previously lost positions. Traders know features of this currency pair to vary dramatically in price in a fairly short period of time. Volatility, in combination with low spreads, is making this trading tool of the currency market very attractive for investors with different size of trading account. After a short time trading with this pair, it is possible to substantially increase the size of your deposit with a broker. And now against the backdrop of the Pound, the trading instrument has changed dramatically in price in comparison to other currencies, which also are traded with the Pound. We target at 125 points, taking into account the size of the dropdown in the currency graph. Our target is just to fit all the Fibonacci ratio. Thus, if the decline will continue, we will have a good chance for success in this transaction.


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

If the support level is broken you can use the following recommendation:
•    Chart timeframe: H4
•    The trade recommendation: Sell
•    The level of entry into short position: 140.15
•    he level of profit and close the position: 138.90 (125 pips)


Forex currency pair EURUSD
Possible bullish movement in the breakout of the resistance level 1.0630

Forex currency pair USDCHF 
Possible bearish movement in the breakdown of the support level 1.0100

GOLD rate
Possible bullish movement in the breakout of the resistance level 1188
 
Forex currency pair GBPUSD
Possible bearish movement in the breakdown of the support level 1.2110

img
Just started in foreign exchange here are a few hints to learn

Comments (0)





Allowed tags: <b><i><br>Add a new comment:


Promotions

Trading Analytics

Be one step ahead of the market

imgaza youtube

Profitable trading recommendations, forex analytics for beginners traders

Subscribe our channel

top authors

Technical analyst

Tim Brykov
Technical analyst

Fundamental analyst

Stan Zabar
Fundamental analyst

Head of Analysis Department

Michael Wallenberg
Head of Analysis Department

Economic Observer

Alan Dofine
Economic Observer

Last comments

Call US Feedback
en de nl fr pt es it uk zh ko ja ar tr hi yi ru