GBPJPY Bullish Breakout – Buy on Dip!
Arslan Butt • 1 min read
Yesterday, we shared a forex trading signal on EURJPY and managed to secure +30 pips on it. So far, these crosses are doing pretty well for us. I'm looking at the GBPJPY, the previous trade setup is no more effective and here is a new one.
Technical Overview – GBPJPY
Recalling the previous update, the Guppy was having a solid resistance at $151.450, in fact, it was trading sideways in a narrow trading range of $150 – $151.450. This morning, the cross pair broke out of the range.
GBPJPY – Bullish Breakout
As of now, it's holding at $151.950 and has a resistance at $152.250. Overall, the pair is dramatically overbought.
Key Trading Level: 151.33
GBPJPY – Trading Plan
Today, the idea is to stay in buying below $151.450 with a stop loss below $150.150 and a take profit at $152.250 and $152.550. Good luck and keep following for more updates!