GBPJPY gained some bullish momentum last week as it crossed 155.00 barrier. GBPJPY has been moving in ascending channel. currently testing upper trendline and resistance zone. Overall Look for the pair remains Long but with current price action anticipate a corrective move towards lower trend line, providing a Short Trading opportunity for Counter Trend Traders.
Outlook – Short
Position – Short Entry (156.483 – 156.150)
TP 1 (155.350),
TP 2 (154.325)
SL (157.250) - Details in Figure Attached
Best
Sardar Uddin
www.tradecuts.com
Outlook – Short
Position – Short Entry (156.483 – 156.150)
TP 1 (155.350),
TP 2 (154.325)
SL (157.250) - Details in Figure Attached
Best
Sardar Uddin
www.tradecuts.com
Attached Image (click to enlarge)
