GBPJPY paused after a sharp jump

  • May 28 2021
  • by
  • Analyst AZA
GBPJPY paused after a sharp jump

GBPJPY paused after a sharp jump

Yesterday's sharp rise in the GBP JPY currency pair allowed us to earn 90 pips. Now the price has encountered the resistance level of 156.10 and cannot get past it. A good sign to open a long position is that the price is not bouncing down far from the resistance level, but is pressing towards it. If the prices do not fall now to the level of 155.00, then the pending order can be left in standby mode and wait until the level 156.10 is broken.

Symbol: GBPJPY
Order Type: Pending Order - Buy Stop
Entry Price: 156.10
Take Profit: 156.60
Pips Earning: 50

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The profit can be $476.19 if the trading volume of 100000 GBP (1 Lot).

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