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Forex: GBP/JPY Trading Analysis for 28 April 2011: Buy Above 136.45

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Intraday trading analysis (tips) on GBP/JPY for 28 April 2011, we recommend to trade Long (Buy) GBP/JPY pair above 136.45 for target of 136.95 and 137.25 keep stop loss below 136.15.

Reason behind trading long on GBPJPY: This pair has been trading in a bullish channel, supported by rising trend line, so trading in the direction of trend we will be looking for only buying opportunity as long as the pair remains above 135.85 level. Technical indicators are showing up trend, suggesting 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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