GBPJPY – Another currency cross to watch

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
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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 .