GBPJPY - POTENTIAL SHORT POSITION (SHORT TERM TRADE)
Hello Guys, here is my insight for GBP/JPY next week! I would love to do some analysis on Major Pair but still need to wait for tomorrow's opening since the USA Election is over. Need to see how the USD reacts first and we can move to major pair and especially XAUUSD (Metals).
As we can see, last week GBP pair quite volatile due to a few fundamental news released. One of them is UK Construction PMI, which is The UK Construction PMI data (Actual: 53.1, Forecast: 55.0, Previous: 56.8) released last week indicated a slowdown in the growth of the construction sector.
I'm looking for short entry position because of the candle closed (Daily/Weekly) is some sort of a hint for bearish trend continues even though the price is still ranging there. In fact, the indicators (Moving Average, MACD, Stochastic) also seems to be bearish as well. This is just an overview and idea for short term trade only!
Trade Idea : Short
Price : Sell Now or Wait For Sell Limit
Take Profit : 135.300 (at least)
Stop Loss : 30-50 PIPS
Disclaimer!
This analysis does not give traders any confirmation on trading execution! It is for educational purposes only. You can refer this analysis and outlook for trading idea but trade at your own risk and trust your analysis first! Thank you and good luck for everyone!
As we can see, last week GBP pair quite volatile due to a few fundamental news released. One of them is UK Construction PMI, which is The UK Construction PMI data (Actual: 53.1, Forecast: 55.0, Previous: 56.8) released last week indicated a slowdown in the growth of the construction sector.
I'm looking for short entry position because of the candle closed (Daily/Weekly) is some sort of a hint for bearish trend continues even though the price is still ranging there. In fact, the indicators (Moving Average, MACD, Stochastic) also seems to be bearish as well. This is just an overview and idea for short term trade only!
Trade Idea : Short
Price : Sell Now or Wait For Sell Limit
Take Profit : 135.300 (at least)
Stop Loss : 30-50 PIPS
Disclaimer!
This analysis does not give traders any confirmation on trading execution! It is for educational purposes only. You can refer this analysis and outlook for trading idea but trade at your own risk and trust your analysis first! Thank you and good luck for everyone!