GBPJPY Hit 70 Pips Profit – Are you up for Next Trade?
Arslan Butt • 1 min read
What's up traders, hope you are enjoying our forex trading signals on GBPJPY as we closed another +60 Pips trade on Friday. During the last week, we matured +215 Pips merely in the Guppy. Are you looking for a new trade setup? Let's crack it…
GBPJPY: Technical Overview
The Guppy soared to trade at $151.014 after the Bank of England remained neutral over the interest rates hikes. On the 4-hour timeframe, the GBPJPY is holding below a major resistance level of $151.250.
GBPJPY – 4 Hour Chart – Fibonacci Retracement
Traders, take a look at the RSI, the pair is heavily overbought that's why I'm always taking sell trades to catch retracement. For now, the next resistance is at $151.450. Below this, the pair can drop to complete the 23.6% Fibonacci retracement at $150.350 and 38.2% retracement at $149.650. Newbies should check out FX Leaders Fibonacci Trading Strategy to ensure profitable decisions.
GBPJPY – Trading Plan
I just shared a forex trading signal to sell below $151.250 with a stop loss above $151.50 and a take profit at $150.650. Good luck and keep following for more updates!