FX FundamentalgpjpyTrading Outlook

Gbpjpy: daily trading outlook

The pair is finding its support. we expect it would go down temperioraly.

Firstly we need to know why they sell signals triggered

we are in the view that this pair has or is going to break out its previous support level (being in the process)

Apparently, you can see it in the chart in 30- minutes it has don whereas in H1 being in the process.

Applying Fibo Retracement!

Therefore we have to bring out our fibo retracement tool in order for having appropriate selling levels.

Ideally, it could be the golden ratio that is 61.86%

Notably, it is around143.20 which is an ideal place to sell this pair.

Target

Target should either be the recent previous low for intraday levels that is 142.54 and 142.34 respectively

Or it would be 121&141% fibo extension levels those lies at 142.30 &142.10 onward

Stoploss and Alternative scenario!

Finally, the stop loss would be deemed appropriate on the previous higher High that stands around. 143.64. If it broke out we would see further upside towards 143.84&144.11 respectively.

Have you grabbed this strategy????

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