GBP/JPY has been bullish on the intraday charts today. The price made a breakout at yesterday’s highest high, thus if it consolidates around the breakout level and produces a bullish reversal candle, buying the pair above today’s highest high may get the buyers some green pips. As of writing, the price finds its resistance at the level of 140.7270. The level of 140.4790 is to hold the price as flipped support and to produce an H1 bullish reversal candle.


Trade Summary

Entry: Above 140.7270

Stop Loss: Below 140.4790

Take Profit 1: 141.1530

Take Profit 2: 141.4790

Take Profit 3:141.8900


Please Note

The bullish reversal candle is to be formed right at the breakout level. Take Profit 1 and Take Profit 2 may be hit in a hurry if the entry is triggered. However, it may take a while for the price to reach Take Profit 3.



Try Secure Leveraged Trading with EagleFX!

Risk Warning: CFD and Spot Forex trading both come with a high degree of risk. You must be prepared to sustain a total loss of any funds deposited with us, as well as any additional losses, charges, or other costs we incur in recovering any payment from you. Given the possibility of losing more than your entire investment, speculation in certain investments should only be conducted with risk capital funds that if lost will not significantly affect your personal or institution’s financial well-being. Before deciding to trade the products offered by us, you should carefully consider your objectives, financial situation, needs and level of experience. You should also be aware of all the risks associated with trading on margin.

Analysis feed

Latest Forex Analysis

Editors’ Picks

EUR/USD trades above 34-month lows after US retail sales miss

EUR/USD is trading around 1.0850, above the lowest since April 2017. The US Control Group disappointed by staying flat in January. Consumer sentiment beat expectations. Germany reported a 0% growth in Q4 2019. 


GBP/USD ticks down after reshuffle-related rally

GBP/USD is trading closer to 1.30, consolidating its gains after UK PM Johnson nominated Sunak as Chancellor instead of Javid, potentially directing fiscal stimulus. Brexit concerns and coronavirus developments are in play.


US retail sales modestly higher in January, soft in the details

Consumers kept to their habits boosting purchases last month but the holiday season was slower than its initial reading giving the New Year a soft beginning.

Read more

WTI climbs to fresh two-week highs above $52

The barrel of West Texas Intermediate (WTI) fell below the $51 handle on Thursday but recovered a large portion of its losses to close the day at $51.50 on easing concerns over the impact of the coronavirus outbreak on the global energy demand. 

Oil News

FXStreet launches Real-Time Trading Signals

FXStreet Signals offers access to explanatory live webinars, real-time notifications when signals are triggered and exclusive membership to the company’s Telegram group, where users get direct guidance by our analysts and get room to discuss and interact.

More info

Forex Majors