Currently, GBP/JPY is trading at 134.02. The pair may start a new up trend if it breaks the resistance level at 133.89. Previously, the pair was trading in an up trend and after touching the resistance level it started consolidating in the resistance and support levels. The pair may start a new up trend if it breaks the resistance level , then its first target price will be at 136.81 and second target price will be at 138.61.

Follow a proper risk management strategy to avoid unnecessary losses and to increase profitability, don’t risk more than 2% of your capital on each trade.

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Thank you,

Rishikesh Lilawat

Rishikesh Lilawat
Rishikesh Lilawat

Rishikesh Lilawat has over seven years of experience in trading Forex and commodities markets, out of which three years in two investment banks as a professional Forex and commodities trader. He holds an M.B.A degree in finance and business analytics from the University of Pune. Realizing the central role of a trader and because of his personal and particular interest in trading, He built skills in market research, technical analysis, fundamental analysis, risk management, and fund management, etc and focus his efforts on communicating and sharing views on market trends and patterns.