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Forex: GBP/JPY Trading Analysis for 11 April 2011: Buy Above 138.75

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Intraday trading analysis (tips) on GBP/JPY for 11 April 2011, we recommend to trade Long (Buy) GBP/JPY pair above 138.75 for target of 139.15 and 139.55 keep stop loss below 138.55.

Reason behind trading long on GBP/JPY: The GBP/JPY pair has been trading in a bullish channel, so trading in the direction of trend we will be looking for only buying opportunity as long as the pair remains above 136.75 level. 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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