Gbpjpy struggling to gain ground InD1 target 164
MVA 50 H4 seems to be keeping price down
Buyers lurking at 166.22 there SL got hit but some are holding SL @165/164.6/164.23 invalidation of supports can bring us to 162/160 as H&$ pattern which means SL is at 171.5/169.8
Entries
166/165.9/165.8
Intial targets never got hit so we were forced to take profits due to large buyers using 10.00 lots or more.
I'd say if the 166.6/166.9 hold the 167.80/177.25 we can expect a sell
I do want to mention a buy pullback can be on the verge but the days not closing as expect. There seems to be a triangle more of a ascending type or top cut triangle. Usually this when found on top can go down. So it just makes me thinking are they going to drop price to rise it as bulls so is at 161 level.
Anything that gets hit from there on can go lows as to 155.8/151.55 if even say more to 148 last time I thought we'd see 139 but that got interrupted by the government stripping in. Initially we like to buy this but for now it's looking like it's counter part gbpusd. Jpy is doing bad against GBP and it seems like the usd is trynna gain of usdjpy. For me both jpy pairs look mixed bearish which might indicate a bullish seen. If we look more into it the usdjpy seems to lean to the bullish side if it doesn't break 116/110/131 .
Buyers lurking at 166.22 there SL got hit but some are holding SL @165/164.6/164.23 invalidation of supports can bring us to 162/160 as H&$ pattern which means SL is at 171.5/169.8
Entries
166/165.9/165.8
Intial targets never got hit so we were forced to take profits due to large buyers using 10.00 lots or more.
I'd say if the 166.6/166.9 hold the 167.80/177.25 we can expect a sell
I do want to mention a buy pullback can be on the verge but the days not closing as expect. There seems to be a triangle more of a ascending type or top cut triangle. Usually this when found on top can go down. So it just makes me thinking are they going to drop price to rise it as bulls so is at 161 level.
Anything that gets hit from there on can go lows as to 155.8/151.55 if even say more to 148 last time I thought we'd see 139 but that got interrupted by the government stripping in. Initially we like to buy this but for now it's looking like it's counter part gbpusd. Jpy is doing bad against GBP and it seems like the usd is trynna gain of usdjpy. For me both jpy pairs look mixed bearish which might indicate a bullish seen. If we look more into it the usdjpy seems to lean to the bullish side if it doesn't break 116/110/131 .
