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Forex: GBP/JPY Trading Analysis for 2 March 2011: Buy Above 133.75

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Intraday trading analysis (tips) on GBP/JPY for 9 March 2011, we recommend Long (Buy) GBP/JPY pair Above 133.75 for target of 133.15 and 134.45 keep stop loss below 133.55.

Reason behind trading long: This pair is firmly trading above its 200 DMA, which confirms the bullishness. So, we will be looking for buying opportunity in this pair as long as it trades above 132.15. Technical indicators are in fovor of the trade, 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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