Estd 2018
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GBP/JPY WEEKLY OUTLOOK

HI GUYS, LET’S JUMP INTO CHARTS REAL QUICK.

GJ HAS BEEN MAKING LOWER HIGHS AND LOWER LOWS SINCE MAY ENDING.

HAVING AN OVERALL BULLISH OUTLOOK FOR SWING TRADE.


WE HAVE TO SEE HOW MARKET REACTS AT SUPPORT LEVEL OF 153.10-153.30ish.

FOR INTRA DAYS, WE HAVE BEEN SHORTING THE LH IN THIS PAIR.

LET’S SEE HOW THE MOMENTUM PLAYS OUT THIS WEEK.


BREAKING OF THIS SUPPORT LEVEL MAY SHIFT THE PAIR TO FURTHER DOWNSIDE TILL 150.30ISH LEVEL.

WILL KEEP YOU GUYS UPDATED.

HAVE A GREAT WEEK PROFX FAM.

******UPDATE******

PRICE BROKE THE SUPPORT LEVEL WHICH I WAS TALKING ABOUT EARLIER.

IN THE ABOVE PICTURE, YOU CAN CLEARLY SEE, THE BREAK OF OUR ZONE. FOLLOWED BY THE RETEST OF THE PRICE IN WHICH I EXECUTED MY SHORT TRADE.

PRICE FOLLOWED THROUGH 60+ PIPS WHICH GIVES US THE AREA TO TAKE INTRA DAY PARTAILS (PROFX RULE OF TAKING PARTIAL PROFIT AT 50 PIPS)

STOP LOSS RISK FREE

NOW, WE’LL FOLLOW THE PRICE HOW IT GOES.

PROBABILITY OF THE MARKET TO MOVE DOWNWARDS IS HIGHER THAN THE UPSIDE AND THAT’S ENOUGH “WHY” FOR US TO HOLD OUR SHORTS RISK FREE.


TILL THE NEXT UPDATE….