Ridmantas
Long

GBPJPY loading longs

FX:GBPJPY   British Pound / Japanese Yen
Within first half of the MAY GBPJPY has made significant move without any more visible pullback. As a result last week Average month range was above 100% as well as Average weekly range was reached slightly around 100%.
Eventually, those ranges has matched with HnS pattern on weekly chart. However, right shoulder is lower the left one, therefore at least GBPUSD will check right shoulder I do not expect that we HnS pattern will be fully completed, but at first target 142.94 (weekly GAP) should be offered and filled before moving back to south.
Ridmantas DaweFXHunter
@DaweFXHunter, doubtfully this will happen in May.
Reply
@Ridmantas, Im filled and SL on break even lets see now. GBP is now driven by fear of hard brexit. this can surprise
+1 Reply
Ridmantas DaweFXHunter
@DaweFXHunter, for sure lets see. GU and GJ has reached 2018 Aug low levels with Average monthly range 100%. Moreover, this two weeks run was without any correction. As well GJ has unfilled gaps which is going soon be filled by UJ and EJ. This all goes in favor to bet on GJ long positions.
Reply
@Ridmantas, Yeah
+1 Reply
Ridmantas DaweFXHunter
@DaweFXHunter, bounced from channel projected lower line
Reply
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