Trading signal on GBP/JPY – Can we make 60 pips out of it?

During the early European session, we opened a GBP/JPY forex trading signal to open a buying position above 141.200 with a target of 141.80.


During the early European session, we opened a GBP/JPY forex trading signal to open a buying position above 141.200 with a target of 141.80. At the moment, trade is doing pretty well, as our trading signal is already making like 20 pips. Here’s a reason behind opening the trade.

Looking at the hourly chart, the GBP/JPY was trading in the ascending triangle pattern which provided is a significant resistance near 141.200. Earlier today, the pair broke out of the bullish pattern.

GBP/JPY - Hourly Chart

GBP/JPY – Hourly Chart

Secondly, the pair also had a bullish crossover on the 100 periods (green one in the chart) which is supporting the buying sentiment of the investors. All we need is a bit of trading volume as the market is lacking volatility. I hope it will be back during the U.S. session.

ABOUT THE AUTHOR See More
Arslan Butt
Index & Commodity Analyst
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.

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