GBPJPY Falls to Fresh Lows, Bounce off Around 127.00 Level

Azeez Mustapha

Updated:

Unlock Daily Forex Signals

Select a Plan

£39

1 - month
Subscription

Select

£89

3 - month
Subscription

Select

£129

6 - month
Subscription

Select

£399

Lifetime
Subscription

Select

£50

Separate Swing Trading Group

Select

Or

Get VIP forex signals, VIP crypto signals, swing signals, and forex course free for lifetime.

Just open an account with one our affiliate broker and make a minimum deposit: 250 USD.

Email [email protected] with a screenshot of funds on account to get access!

Sponsored by

Sponsored Sponsored
Checkmark

Service for copy trading. Our Algo automatically opens and closes trades.

Checkmark

The L2T Algo provides highly profitable signals with minimal risk.

Checkmark

24/7 cryptocurrency trading. While you sleep, we trade.

Checkmark

10 minute setup with substantial advantages. The manual is provided with the purchase.

Checkmark

79% Success rate. Our outcomes will excite you.

Checkmark

Up to 70 trades per month. There are more than 5 pairs available.

Checkmark

Monthly subscriptions begin at £58.

GBPJPY Price Analysis – March 18

The GBPJPY cross falls to fresh lows, about the current session-level of 127.00, although some levels have been recovered later. The new optimism over Tuesday’s £330 billion stimulus package from the UK government has been largely offset by increasing worries about the coronavirus pandemic’s economic effects.

Key Levels
Resistance Levels: 148.66,144.95, 138.68
Support Levels: 132.58, 130.49, 126.54

GBPJPY Long term Trend: Bearish

The new development in the larger structure suggests that market behavior at 122.75 (low) level is simply an external consolidation model. The greater downtrend from the level of 195.86 (high) is not yet complete.

A break of the level of 126.54 may indicate that the downtrend is resuming to a low level of 122.75. Meanwhile, the trend may remain bearish in case of recovery.

GBPJPY Short term Trend: Bearish

GBPJPY’s fall from the level of 147.95 is still ongoing, and the intraday bias remains at the bottom for retesting the low level of 126.54.

To indicate a short-term fall, breaking through the resistance level of 134.31 is necessary from the upper side. Otherwise, in case of recovery, the model may remain bearish.

Instrument: GBPJPY
Order: Sell
Entry price: 128.58
Stop: 130.49
Target: 126.54

Note: Learn2Trade.com is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

Share with other traders!

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.

Leave a Reply

Your email address will not be published. Required fields are marked *