Potential Breakout in the GBP/JPY – Are you ready to catch quick 30 pips? - Forex News by FX Leaders

Potential Breakout in the GBP/JPY – Are you ready to catch quick 30 pips?

Posted Thursday, September 13, 2018 by
Arslan Butt • 1 min read

What’s up, fellas.

The market is a bit slow today and it’s because traders are awaiting the Bank of England and European Central Bank to release the interest rate decision. Anyway, we just shared a forex trading signal to buy GBP/JPY at 145.450 to target 145.750.

Actually, it’s an ascending triangle pattern breakout which is in play. The pair is likely to violate 145.400 resistance and this may lead it towards 145.750 or even higher. But it’s better not to hold the position until the BOE rate decision is out.

Support Resistance
144.65 145.65
144.17 146.17
143.17 147.17
Key Trading Level: 145.17

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About the author

Arslan Butt // Index & Commodity Analyst
Arslan Butt is our Lead Commodities and Indices Analyst. Arslan is a professional market analyst and day trader. He holds an MBA in Behavioral Finance and is working towards his Ph.D. Before joining FX Leaders Arslan served as a senior analyst in a major brokerage firm. Arslan is also an experienced instructor and public speaker.
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