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Forex: GBP/JPY Trading Analysis for 1 April 2011: Buy Above 134.25

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Intraday trading analysis (tips) on GBP/JPY for 1 April 2011, we recommend to trade Long (Buy) GBP/JPY pair above 134.25 for target of 134.65 and 134.95 keep stop loss below 133.95.

Reason behind trading long: This pair has crossed above the 200 DMA on Daily chart, hence we can confirm the near term bullishness in this pair. So, we will be looking for buying opportunity in this pair as long as it trades above 133.55. Technical indicators are showing up trend, indicating traders to trade long only.

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About Bhaveek Patel

Bhaveek Patel is one of the most successful traders, technical analyst, and investor, his areas of interest include stock market, forex, and gold trading. Apart from this, he is often seen in the golf course. He is having more than 10 years of experience in trading, had placed his first order on 19 June 2006 with IndiaInfoline.

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