Get started
FuturesForexClasses

GBPJPY / H1 / Daily Forex Technical Analysis / 5.16.2019

Long
British Pound / Japanese Yen (OANDA:GBPJPY)  
FuturesForexClasses  
OANDA:GBPJPY   British Pound / Japanese Yen
Trend Analysis Harmonic Patterns Chart Patterns dailyanalysis Forex Technical Analysis gpyjpy h1 forexsignals froextrading forextradingzones may2019
2
0
trendanalysis harmonicpatterns chartpattern dailyanalysis forex technicalanalysis gpyjpy h1 forexsignals froextrading forextradingzones may2019
Hello Traders, welcome to the Daily Forex technical analysis. Today is May 16th, 2019 and we will be taking a look at the British Pound against the Japanese Yen. Looking at the 1 hour time price action has reverted back to a previous area of support and resistance near the 140.2 levels. If we can get some sort of a short bullish bounce near this area, we would be looking for an opportunity to go Long. Entry for a Long position near the 141.161 area, with a Stop Loss near the 140.611 zone, and a target profit level area of 142.512 to ensure a profitable trade with a potential 2.46 to 1 R/R.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.