GBP/JPY trading signal doing well – Quick update!
Arslan Butt•Tuesday, September 4, 2018•1 min read
During the late Asian session, we opened a forex trading signal to buy GBP/JPY at 142.88 and until now the signal is making like 30 pips. But we are targeting 143.45 (Approx 60 pips) in this trade.
The reason why we are aiming 143.450 is that it’s a 50% retracement level. As we can see on the 2- hour chart, the GBP/JPY was in oversold territory and it’s finally coming out of it. It means the pair is bouncing off to complete the retracement. That’s why we took a bullish position and we should hold on to it until 143.450 with a stop loss at breakeven levels. Good luck!
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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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