Our free forex signals service trade today is a sell order on the GBP/JPY pair. The currency pair dropped like a rock in the short term as the Japanese Yen Futures managed to rebound. It’s traded at 155.76 level at the time of writing far below 156.90 today’s high. Technically, the price action signaled that the upside movement ended and that it could develop a corrective phase. The GBP/JPY pair plunged after the BOJ, but a larger downside movement needs strong confirmation. Get FREE Forex Signals Now! 3 Free Forex Every Week – Full Technical Analysis As you already know, the Bank of Japan maintained its monetary policy, keeping its BOJ Policy Rate unchanged at -0.10%. Still, the BOJ raised the inflation forecasts to 1.1% versus 0.9% previous forecasts. UK Unemployment Rate 4.1% The British Pound depreciates even if the United Kingdom Unemployment Rate dropped unexpectedly from 4.2% to 4.1%. In addition, the Claimant Count Change was reported at -43.3K versus -38.6K expected, while the Average Hourly Earnings came in line with expectations, registering a 4.2% growth. As you can see on the H4 chart, the pair retested the descending pitchfork’s upper median line which represents a dynamic resistance and now could challenge the 23.6% retracement level. A valid breakdown could signal deeper drop. Free forex signals – SELL GBP/JPY at 1.55.30 Free forex signals entry price and takes profit Instrument: GBP/JPY Order Type: SELL STOP Entry price: 155.30 Stop Loss: 157.06 TP1: 152.31 My Risk: 1% Risk / Reward Ratio: 1:1.7 Looking to trade forex now? Invest at eToro! Trade Forex Now! 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. 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. View All Post By Olimpiu Tuns Forex Trading Signals share Read Next GBP/USD Forecast: Ignoring Key 1.3600 Level As DXY Rallies Olimpiu Tuns 3 months Our free forex signals service trade today is a sell order on the GBP/JPY pair. The currency pair dropped like a rock in the short term as the Japanese Yen Futures managed to rebound. It’s traded at 155.76 level at the time of writing far below 156.90 today’s high. Technically, the price action signaled that the upside movement ended and that it could develop a corrective phase. The GBP/JPY pair plunged after the BOJ, but a larger downside movement needs strong confirmation. [su_button url="https://www.forexcrunch.com/visit/learn2trade" style="3d" background="#1d44bb" size="8" center="yes" radius="0"]Get FREE Forex Signals Now![/su_button] 3 Free Forex Every Week – Full… Top Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.