GBPJPY Trade Idea (4th March 2020)
Currency Pair: GBPJPY
Timeframe: H1
Date/Time of Signal: 4th March 2020 / 1315hrs (SGT)
Review:
With no clarity of post-Brexit EU-UK trade terms and the worsening condition of the coronavirus outbreak, the Pound is likely to weaken against Yen.
GBPJPY has been on a downtrend below the Resistance level of 139.20.
Following the trend, trade signaled to sell GBPJPY (Entry: 137.57) with 3 Take Profit (TP) Targets (TP1: 137.37, TP2: 137.17, TP3: 136.97) and Stop Loss (SL) at 137.87.
Timeframe: H1
Date/Time of Signal: 4th March 2020 / 1315hrs (SGT)
Review:
With no clarity of post-Brexit EU-UK trade terms and the worsening condition of the coronavirus outbreak, the Pound is likely to weaken against Yen.
GBPJPY has been on a downtrend below the Resistance level of 139.20.
Following the trend, trade signaled to sell GBPJPY (Entry: 137.57) with 3 Take Profit (TP) Targets (TP1: 137.37, TP2: 137.17, TP3: 136.97) and Stop Loss (SL) at 137.87.
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