Sellers Looming in GBP/JPY – A Potential +100 Pips on the Cards!
During the European session, GBP/JPY soared to place a high near 149.450 but failed to violate this level. This seems to be a signal that the bears are looming around 149.450 and we may be able to capture a swing trade for more than 100 pips.
GBP/JPY – Technical Outlook
- On the daily timeframe, this pair has tested 149.450 for the third time, yet failed to surpass this level.
- The RSI and Stochastics are overbought and we may see buyers taking profit soon.
- The recent candle has a big shadow on the upside, which reflects that probably buyers are coming out of the market.
So, here’s a plan. We should look for a selling opportunity below 149.450 to target 148.450 and 148 at first. The stop loss should be above 149.450.
Good luck!
Check out our free forex signals
Follow the top economic events on FX Leaders economic calendar
Trade better, discover more Forex Trading Strategies
Related Articles
Comments
Subscribe
Login
0 Comments