Go Long GBPJPY Range Says Automated Trading Signal
Within the last 45 minutes our Forex Buy/Sell Automated Trading Signals placed a buy order on the GBPJPY using the “Range1” system. Keep in mind that the “Range1” system has an accuracy percentage of 32% and has an average per trade profit of -23.91 pips.
But Should You Place The Trade?
Fundamentally speaking the Bank of England is likely to cut rates over the next four quarters while the Bank of Japan holds steady. Such logic would lead some to conclude that the Sterling is likely to continue a broad downward trend against the Yen.
See more Forex Buy/Sell Signals on DailyFX+ and be sure to monitor any updates on these specific signals, as our automated forex signals can and do change on a daily and intraday basis. For more information and guides on using our DailyFX Buy/Sell Signals, see our Weekly Forex Trading Strategy Outlook report.