GBPJPY Trade Idea (19th December 2019)
Currency Pair: GBP/JPY
Timeframe: H1
Date/Time of Signal: 19th December 2019 / 2230hrs (SGT)
Review:
UK Retail sales m/m was worse than expected. Bank of England (BOE) held interest rates at 0.75% with its rate-setting committee voting 7-2 in favor of keeping the current level. However, BOE also mentioned that it could cut rates if “global growth fails to stabilize or Brexit uncertainties remain entrenched.”
GBP/JPY has been on a downward trend and as GBP/JPY broke the Support level of 143.00, trade signaled to sell GBP/JPY (Entry: 142.67) with 3 Take Profit (TP) Targets (TP1: 142.47, TP2: 142.27, TP3: 142.07) and Stop Loss (SL) at 142.97.
Timeframe: H1
Date/Time of Signal: 19th December 2019 / 2230hrs (SGT)
Review:
UK Retail sales m/m was worse than expected. Bank of England (BOE) held interest rates at 0.75% with its rate-setting committee voting 7-2 in favor of keeping the current level. However, BOE also mentioned that it could cut rates if “global growth fails to stabilize or Brexit uncertainties remain entrenched.”
GBP/JPY has been on a downward trend and as GBP/JPY broke the Support level of 143.00, trade signaled to sell GBP/JPY (Entry: 142.67) with 3 Take Profit (TP) Targets (TP1: 142.47, TP2: 142.27, TP3: 142.07) and Stop Loss (SL) at 142.97.
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