GBP/JPY bouncing off the Trendline – Buckle up for a buying signal!
Arslan Butt • 1 min read
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!