GBPJPY – Out of the Range

The GBPJPY traded in a medium term range in the last two weeks, from 137.55 to 134.89. It was very difficult to trade that range because it wasn’t that well defined, but guess what, the GBPJPY broke that range earlier, during the European session:

GBPJPY
GBPJPY

The GBPJPY is likely to continue its way down until it hits the next LT support level around 131.65. I will be looking for short opportunities as long as the GBPJPY keeps trading below 134.89.

Trade Safe!

Raul Lopez
http://www.protradingnow.com/

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Raul Lopez

I’ve been trading the markets for more than 15 years. I believe the best way to trade is by adapting to the market conditions. You can learn it too, join our community .