Home Free Forex Signals and Forecast: Sell GBP/JPY – 10 Mar 2022
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Free Forex Signals and Forecast: Sell GBP/JPY – 10 Mar 2022

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.

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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.

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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

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Olimpiu Tuns

Olimpiu Tuns

Olimpiu Tuns graduated with a Master in Business Administration and is a seasoned Market Analyst / Trader / Trainer with 10 years of experience in the financial markets having expertise in Forex, Commodities, Index, Cryptocurrencies, and Stocks. He worked as a Market Analyst for three major brokerage companies, as a prop trader, and as a contributor/content creator for news portals and educational platforms.