Possible trade in the GBPJPY

Written by Raul Lopez on . Posted in Trades & Analysis. 24 Comments

difficult markets

Hey trader, how is your trading going so far this week? What currency pairs are you trading?

Please don’t tell me the EURUSD…

I know you like to trade the EURUSD because of the spread, but take a look at it, specially at its short term charts… its all over the place.. .

No clear support and resistance levels, no clear swings, I don’t see anything clear on that currency pair.

So please, if you only trade the EURUSD, expand your horizon, you’ll see that there are better opportunities.

The GBPJPY for instance…

On my last article I mentioned that some of the JPY crosses were trading in a clear condition, well, the GBPJPY is one of them…

GBPJPY Long Term Analysis

Let me show you the long term chart:

GBPJPY 1D

It’s got everything you need in a long term chart, to make you feel comfortable trading it: clear levels, clear swings, clear everything.

So its clear that the GBPJPY is likely to continue its way up… and what do you do with this? You know the answer to this question right?

Look for long opportunities.

But not here, we need to look at the short term charts.

GBPJPY Short Term Analysis

Here is the 15 minute chart:

GBPJPY 15M

It’s got a clear range, so I’d definitely take a breakout trade here… My entry is 174.83 + spread, my stop loss is at 174.45, and my TP is at 179.60.

Note: THIS IS A PENDING ORDER, NOT A MARKET ORDER.

A pretty good risk reward ratio ha?

Your turn

What currency pairs are you trading/monitoring?

What do you think about my GBPJPY signal? Are you going to take it?

Share your thoughts!

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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 .
  • Varahala Babu

    hi raul…gbp/chf is bearish ? i found clear support and resistance levels and clear swings . tell me from the way you see it the gbp/chf pair

    • Raul Lopez

      Thats correct Varahala, the GBCHF is trading in a bearish condition!

  • Mind Time

    Great work mate, i have been a regular follower i have made over 400-500 pips mainly by trading on your analysis. The best part about it is that it is really simple to use without any extra ordinary requirement, so i was even able to make great profits and thankfully got the quick withdrawal too due to Instant payment service by my broker OctaFX. I will suggest to all my friends to use your analysis they are really worth following like my broker!

    • Raul Lopez

      Congrats!

  • Varahala Babu

    hi raul…can we go short on aud/usd ?

    • Raul Lopez

      Hello Varahala,

      I dont know what system you are using, but I you need to wait for your signal… If you got your signal go ahead and take it…

      Now, from the way I analyze & trade the market, the AUDUSD is trading in a bearish condition, but I havent got my signal yet…

      Have a great weekend!

  • Varahala Babu

    hi raul…can we still go long on gbp/jpy ?

    • Raul Lopez

      Hello Varahala, I wouldnt… its trading near an important level.

      Good luck!

  • Varahala Babu

    hi raul…according to how you place trades in free analysis…gold is matching long term analysis for bearish condition and 15 min chart is matching for breakout entry…..is that ok ?

    • Raul Lopez

      Hello Varahala, right now I wouldnt trade XAUUSD… I dont like the way its trading in the long term charts!

      But again, that’s just the way I see it, it could still go down, I just dont feel comfortable with it right now…

      Good luck!

  • pduarte

    Hello Raul,

    This next week we have plenty of red ligths, so we must be careful.

    Cheers,

    Paulo

    • Raul Lopez

      Hello Paulo,

      Yep, its going to be an interesting week… Specially on Friday!

      Good luck Paulo!

  • Chad Hogan

    Raul,

    What a week!! Tania and I have made hundreds of pips this week trading the yen pairs; USDJPY, GBPJPY and CADJPY. I was actually long on this one before I read this article. Thanks again for your continuing analysis on identifying clear pairs to trade. I’m sure you’ve done well this week too. It has certainly helped to redeem some silly losses Ive had.

    Regards Chad

    • Raul Lopez

      Hello Chad,

      Congrats Mate! All of them moved on your favor… Yep, not as good as yours, but yes, it was a great week!

      All those JPY crosses have been the winners in the last couple of weeks! We’ll see what happens next week… but for now, its time to start relaxing…

      Enjoy your weekend with Tania and your family, both of you deserve it!

      Cheers,

  • Jade

    This trade gave my account 20% return!

    • Raul Lopez

      Great trade Jade! How much are you risking per trade?

      Have a great weekend!

      • Jade

        Raul,
        My bad. I was so excited that I typed 20% instead of 10%. I risked 2% on that trade. I am paper trading right now so it is not real money. I am still learning, but I try to take the trades as if they were real with a different mind set. I used to overtrade on demo accounts because the risk wasn’t real and I always destroyed every demo account I had. I took a 6 month break and came back and I am trying to trade like you with no indicators, and to trade near support and resistance lines like you do and it works far better than before. Thanks for all you do for us knew traders Raul.

        • Raul Lopez

          Still, 10% is great! I asked you because 20% in just one trade is a lot!!! So I thought you were risking too much…

          But you are fine!

          Good luck with your trading!

  • Varahala Babu

    hi raul…thanks for the above trade….i have profitted 12000 usd in this trade

    • Raul Lopez

      Congrats Varahala! You nailed it!

      Have a great weekend!

  • pduarte

    Hi Bro,

    That is a very good one, I have been watching it too.

    I also have a long position at CADJPY, and is now positive on 80 pips, and another one short in the EURAUD that is now starting.

    I am now looking for an entry on the GBPJPY.

    Cheers,

    Paulo

    • Raul Lopez

      Hey Paulo,

      Congrats! You did great then! Time to get some relaxing time over the weekend!

      Congrats again mate!

      Cheers,

  • dinuks

    I’ve noticed that your stop losses are very tight (based on 15mt charts) for such a long term trade. Won’t you run the risk of being stopped out too soon?

    • Raul Lopez

      Hello Dinuks,

      Well, I set each stop individually… it dependes on the nature of each trade. Sometimes I use tight stops, but some others are wider…

      Let me know if you need anything else.

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