Technical indicators show us that GBP/JPY is going down and will break a Support lvl formed last Thursday and will keep trending down (but on a sideways descending trend not Breakout so be Patient....).
it will travel to a previous Low (last touched on 24 of Mar) and thats where we close the trade and take our PROFIT$$ -its good to keep an eye afterwards to see if will break that support as well
Remember the correlation -FTSE 100 is going down so GBP will get weaker !!! look at the FTSE today ( -0.70%)
so lets make it Simple Simple Simple:
Open a SELL @131.900
Take Profit @ 129.600 (228 Pips)
Stop Loss @132.400 (48 pips)
Risk VS Reward 5:1 !!!!
(always make Sure Risk Reward is 2:! MINIMUM!!)
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Fat Dog Goes Trading -No Ads No Money No Bullshit -straight up trading Analysis !!!!
it will travel to a previous Low (last touched on 24 of Mar) and thats where we close the trade and take our PROFIT$$ -its good to keep an eye afterwards to see if will break that support as well
Remember the correlation -FTSE 100 is going down so GBP will get weaker !!! look at the FTSE today ( -0.70%)
so lets make it Simple Simple Simple:
Open a SELL @131.900
Take Profit @ 129.600 (228 Pips)
Stop Loss @132.400 (48 pips)
Risk VS Reward 5:1 !!!!
(always make Sure Risk Reward is 2:! MINIMUM!!)
Please follow me if you like what you see !
Fat Dog Goes Trading -No Ads No Money No Bullshit -straight up trading Analysis !!!!
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the service is completely free ! join us in the struggle
Available free education on our site :
fdgtacademy.com/