Clear bullish condition on GBPJPY

I know many of you like to trade the GBPJPY because it is one of the currency crosses that moves the most. Now, let me tell you what I think about this one:

I also like it, but not when it is on a bearish condition, because you know, a BOJ intervention is always possible (when it’s bearish). But now it is different, it is trading in a bullish condition, and if the BOJ intervenes it will be on our favor, it will actually help us if we are long.

So this would be a good time for us to look for long opportunities on the GBPJPY:

As you can see, it already broke through the ST resistance level, so as long as it trades above this level, I’ll be looking for long opportunities.

The next resistance level here is at 124.04

Trade Safe!

Raul Lopez
Forex Course

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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 .