Search ForexCrunch

Our free forex signals service trade today is a sell order on the GBP/JPY. The pair is looking for a downside after a mild correction.

The GBP/JPY cross registered sharp movement in the near term. When writing, the cross is trading at 152.63, maintaining above 152.29 (today’s low). After its massive drop, the price has recovered; the bias remains bullish.

Are you interested in learning more about scalping forex brokers? Check our detailed guide-

That’s why we need strong confirmation before taking action on this market. The Japanese Yen rallied as the Japanese Yen Futures rebounded in the short term. Fundamentally, the PPI rose by 9.3% in February versus 8.6% expected compared to 8.9% growth in the previous reporting period.

Moreover, the UK RICS House Price Balance was reported at 79% versus 72%. Tomorrow, the UK will release its GDP, Industrial Production, and Goods Trade Balance.

ECB & US Inflation data

Later, the ECB Press Conference and the US Inflation figures could also stimulate the GBP/JPY. These are high-impact events and could bring high volatility on all markets.

Technically, the pair is located within an up channel. Therefore, a valid breakdown from this pattern may announce a strong downside movement. Still, it could come back to test and retest the immediate resistance levels in the short term.

3 Free Forex Every Week – Full Technical Analysis

Free forex signals – Sell GBP/JPY at 152.20

gbp/jpy free forex signals

Free forex signals entry price and take-profit

Instrument: GBP/JPY

Order Type: SELL STOP

Entry price: 152.20

Stop Loss: 153.05

TP1: 150.94

My Risk: 1%

Risk / Reward Ratio: 1:1.5

Looking to trade forex now? Invest at eToro!

68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money