GBP/JPY bouncing off the Trendline – Buckle up for a buying signal!

Japanese cross is facing a solid support near 144.950. As we can see on the hourly timeframe, there's a bullish trendline which is holding..

Written by: Arslan Butt • Wednesday, September 12, 2018 • 1 min read

• Last updated: Wednesday, September 12, 2018

What’s up, fellas.

The Asian session was a bit muted but the investors seem to get back on the London open. We got a quick profit in French index (CAC) and reentered the market for more profits.

There’s another opportunity in the GBP/JPY. Are you up for it?

Fellas, the Japanese cross is facing a solid support near 144.950. As we can see on the hourly timeframe, there’s a bullish trendline which is holding the pair in the bullish territory. Besides that, there’s 50 – periods EMA which is also suggesting a bullish sentiment of investors.

Thus, the forex trading signal is to open a buying position above 145 with a stop at 144.68 and take profit near 145.38. Good luck!

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ABOUT THE AUTHOR See More

Arslan Butt

Lead Markets Analyst – Multi-Asset (FX, Commodities, Crypto)

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.