British Pound / Japanese Yen GBPJPY

Buy Above

GBP/JPY

GBY JPY

refer chart

SELL GBP/JPY @ 147.65 SL 148.15 TP 146.50 & 145.00

SELL GBP/JPY @ 147.00 SL 147.80 TP 1 146.00 TP 2 145.50

A move above the higher end of the resistance zone would point to new acceleration towards 150.50 and 151.00 levels.

As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=147.55. But the short term forecast is range bound, so we expect to reach the following targets: TP3: R1=148.6. TP4: R2=149. Set the stoploss of these orders at breakout of S2=147.3. Stop and reverse: If trend gets reversed, sell (stop) orders will be opened at breakout of ...

As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=147.2. But the short term forecast is range bound, so we expect to reach the following targets: TP3: R1=148. TP4: R2=148.4. Set the stoploss of these orders at breakout of S2=146.95. Stop and reverse: If trend gets reversed, sell (stop) orders will be opened at breakout of ...

Short

Short

sell Cmp 147.467

As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=147.6. But the short term forecast is range bound, so we expect to reach the following targets: TP3: R1=148.4. TP4: R2=149. Set the stoploss of these orders at breakout of S2=147.35. Stop and reverse: If trend gets reversed, sell (stop) orders will be opened at breakout of ...

GBPJPY LONG TRADE IDEA

BUY GBPJPY between 148.25-148.30 sl below 147.80 TP 148.60

BUY

The GBP/JPY has reversed its short term downtrend. It has broken its resistance and currently taking support at its broken resistance. Also it is currently in a triangle formation and we expect the pair to make a bullish breakout which will be good time to take long positions.

The 1 hour chart of GBP/JPY has formed a full Elliot wave pattern So,It is expected to be bearish for the 'c' corrective wave.