GBPJPY Stopped Out – Las Vegas Turbulence Played
Arslan Butt • 1 min read
Hard luck fellas. A day before, we shared a forex trading signal on GBPJPY that kept floating in profit for a while until the Las Vegas tragedy happened which boosted safe haven's appeal in the market. Consequently, our signal ended up at stop loss. No worries, it's part of the business. Are you ready for another trade on GBPJPY?
GBPJPY – Triangle Breakout
Recalling our earlier update, Are You Ready for a Quick Buy In GBPJPY, the triangle pattern which was extending a horizontal support at $150 is not in action anymore. Investors reacted to news about Las Vegas and moved to safe haven assets such as Japanese yen, Swiss Franc and Gold.
GBPJPY – 2 – Hour Chart – Triangle Breakout
Now, this pair is likely to face resistance at $150.400. It's a bullish trend line resistance level which was earlier providing support to the pair.
GBPJPY – Trading Plan
I'm planning to take a sell position below $150.500 with a stop loss above $150.950 and a take profit at $149.500. Good luck fellas, keep following FX Leaders Risk Management Strategies to enhance profit potential.