GT247.com Trading Blog

GBP/JPY Express Technical Take (Hourly Chart)

Written by Odwa Magwentshu | 25 Aug 2017

Update on GBP/JPY Trade

30/08/2017- TAKE PROFIT 

25/08/2017

Express trade GBP/JPY on an hour chart

I have just seen an inverse head and shoulders pattern form on the hourly chart. It has retraced slightly that is why I am waiting for a candle stick to close above the 140.5 level. I am looking at a potential move of 125 points.

Trade summary:

Long GBPJPY (Hourly chart)

Target profit:     141.75

Entry:                140.50

Stop Loss:         139.84

Remember... trade responsibly, your capital is at risk and trading can lead to capital losses.

Until next time, I wish you profitable trading.

 All charts sourced: Bloomberg

 
 
Odwa Magwentshu | Trading Specialist at GT247.com
 

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