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GBP/JPY Potential Upward Movement

GBP/JPY Long-Term Trend: Bullish

Key Resistance Levels: 155.89, 156.08, 157.00

Key Support Levels: 155.48, 154.82, 154.00

Daily Chart:

The price on the higher time frame is in a clear upward movement where it posted higher highs and lows. The price succeeded to break the daily resistance (now support) around the 154.82 USD mark. The pair retraced to it and now it is preparing to be launched to the upside again.

GBP/JPY Medium-Term Trend: Bullish

1-hour Chart:

On the 1-hour time frame, the pair managed to break the wedge formation to the upside. A lower correction is expected to the highlighted zone before a rally toward the target profit which is the 155.78 USD level.

Signal Idea:

Buy Limit Order @ 155.48

TP 1 @ 155.78

TP 2 @ 155.89

Stop Loss @ 155.33

Trade Safely 🙂

About Joe Damien

Joe is a proven Forex analyst and manual trader with 6 years of full-time trading experience. He is a swing trader that relies on price action, market structure and Fibonacci retracement. His two most successful pairs are CHF/JPY, CAD/JPY, but his expertise allows him to profit on any asset or pair.

7 comments

  1. Hi Joe
    The signal was not triggered for me, while I made all recommended. Octafx my4 platform. What could be the reason?

    • You are actually lucky, the trade result was a sl

      • Hello guys,

        Yeah I was a bit unlucky since the price was far from my target profit by two pips.

        Looking forward for the next week, many opportunities to come.

        Regarding why it was not triggered it all depends on the broker you use. It was triggered from my side.

    • Order initially did not trigger for me (MetaTrader4 with Clover4X broker) at the time when it was announced in VIP Signals, unfortunately it did trigger on the way down and went right to the Stop, booking a solid 1% loss on my account. By the way, even the officially adjusted Stop was 4 pips below entry and would have created a small loss (not to mention fees).

    • Hello Andrey & J-P,

      Its about the broker, sometimes they have wider spread than other ones, and this will lead to a trading idea not to be triggered.

      Trade Safely please.

  2. Eminent Dgreat

    I love to know more about trading and signal. Please help me with the knowledge. On how to trade successfully

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