GBPJPY – Another currency cross to watch

Written by Raul Lopez on . Posted in Trades & Analysis

Another good possibility for early next week could be the GBPJPY, It is trading in a very strong bearish market condition and the next LR support level is around 127.63. It is currently trading at 131.12, so we have more than 350 pips before we reach the next level:

I’m going to see how the GBPJPY behaves around the ST resistance level, if I get something significant with downward pressure, I’ll definitely go short.

Another possibility is getting a breakout signal around the ST support level.

Have a great weekend!

Raul Lopez
Price Action

email

Tags:

Raul Lopez

I've been trading the forex market for more than 11 years. All my trades are based on price action. Check out my Forex Coaching program, I can help you develop a system that helps you trade consistently.
StraightForex
Raul Lopez Forex

Trading should be simple

I like to trade using simple tools such as support and resistance levels, candlesticks, price action and others. If you like simplicity, you'll love my Forex Coaching. Read more about me.

If you have any question about anything, please feel free to contact me at: info@straightforex.com or call +1 518 300 3828

StraightForex on Facebook StraightForex on Twitter Call me on Skype Grab my RSS StraightForex on Google+ StraightForex on YouTube