Home Forex Market Analysis Forex Signals GBP/JPY Reverses Over Support – Doji & Bullish Engulfing in Play!

GBP/JPY Reverses Over Support – Doji & Bullish Engulfing in Play!


The GBP/JPY pair slipped to drop until 137.500 support level and has closed a Doji candle which is suggesting odds of bullish reversal in the market. On the 4 hour timeframe, the GBP/JPY pair has closed a Doji pattern which is suggesting that the sellers are exhausted and bulls may enter the market. On the higher side, the GBP/JPY pair can find resistance at the 138.687 level. Thus, we have decided to capture this move, and opened a signal with a stop loss at 137.46 and take profit of 138.36. Let’s keep an eye on the pair.

Entry Price – Buy 137.86
Stop Loss – 137.46
Take Profit – 138.36
Risk to Reward – 1:1.25
Profit & Loss Per Standard Lot = -$400/ +$500
Profit & Loss Per Micro Lot = -$40/ +$50
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