informedtrades
Long

Yen Weakness Appearing Everywhere

FX:GBPJPY   British Pound/Japanese Yen
86 0 1
I'm already long CADJPY             and AUDJPY             , and now seems like a good time to go long GBPJPY             . Price has pulled back to the 61.8% Fibonacci retracement from its recent swing low to swing high, and is also sitting just above its 50 SMA , which is coinciding with a horizontal support level . Friday's candle was also an inverted hammer at support, which I'm interpreting as a sign that bulls are stepping in.

As such, I'm long at 172.72 with my stop at 171.87. My target profit is just above the recent highs at 175.27. I'm risking 85 to gain 255, which gives me a reward/risk of exactly 3.

http://www.informedtrades.com
United States
United Kingdom
India
Deutschland
España
France
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
Malaysia
日本
한국
中国
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Priority Support Ideas Published Followers Following Private Messages Chat Sign Out