GBPJPY: Buying Opportunity
The price moved above the daily trend line and broken the local downtrend line. It gives us a bullish signal. The price bounced from the support zone formed by SMA100 and 134.00 support level. MACD and RSI are bullish.
We can expect the continuation of the upward movement. Probably buyers will be able to start a new uptrend.
Here is an example of a possible long trade.
Buy above 135.100
Stop below 133.950
Profita target at 139.850
Risk per trade must be 1-2% from the deposit. It is possible to fix the part of profit at round number levels. Use a trailing stop as an additional option.
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
We can expect the continuation of the upward movement. Probably buyers will be able to start a new uptrend.
Here is an example of a possible long trade.
Buy above 135.100
Stop below 133.950
Profita target at 139.850
Risk per trade must be 1-2% from the deposit. It is possible to fix the part of profit at round number levels. Use a trailing stop as an additional option.
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
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