Intraday trading analysis (tips) on GBP/JPY for 28 February 2011, we recommend to trade Long (Buy) GBP/JPY pair above 132.55 for target of 132.95 and 133.35 keep stop loss below 132.25.
Reason behind trading long: This pair has been rebounding from its 200 DMA level (131.55 level), the pair on daily chart looks like taking the support so, we will be looking for buying opportunity in this pair as long as it trades above 131.85. Technical indicators are in fovour of the trade, indicating traders to trade long only.
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