GBPJPY due to weak Yen and passed the resistance level

  • May 27 2021
  • by
  • Analyst AZA
GBPJPY due to weak Yen and passed the resistance level

GBPJPY due to weak Yen and passed the resistance level

The GBP JPY currency pair took advantage of the fact that the Yen weakened and passed the resistance level, which limited its growth. Previously, we recommended buying this currency pair, and now it can be done again. The price was able to pass a strong resistance level and no other levels are visible, which could now stop its growth. It is better to exit the position and take profit at the flat level of 156.00, although for the most patient traders they can set their take profit 50 pips higher at 156.50.

Symbol: GBPJPY
Order Type: Pending Order - Buy Stop
Entry Price: 155.10
Take Profit: 156.00
Pips Earning: 90

The result of a trade recommendation. The price reached Take Profit in 4 hours.

The result of a trade recommendation. The price reached Take Profit in 4 hours.

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The profit can be $857.00 if the trading volume of 100000 GBP (1 Lot).

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