GBPJPY
On the daily and weekly the pair is trading in a descending channel. The past 6 days show that the pair is attempting to make another push up to ceiling after a bounce off of the 50% of the D1/W1 channel and D1 S/R level. There was also a descending channel formed on the 1H/4H charts and day 1 of the recent 6 saw the bounce from this channel into the current move. This move should push for the retest of the D1/W1 channel. We look to be setting up for our pullback at the moment for a move to the 1D/W1 channel.
(BUY)
If it pushes down at current price 144.381 to the zone 143.771/143.559 or zone 142.932/142.781. This would give the pullback of the 50% levels for the move from the rejection of the 1H and 4H channel price breaks completely to the downside and pulls back to these lows.
TP1: 143.336
TP2: 143.771
TP3: 144.240
TP4: 144.602
TP5: 144.923
TP6: 145.504
After this the aim is to reach the channel ceiling.
(SELL)
If it breaks through lower zone for the sell
TP1: 142.490
TP2: 141.907
TP3: 141.023
On the daily and weekly the pair is trading in a descending channel. The past 6 days show that the pair is attempting to make another push up to ceiling after a bounce off of the 50% of the D1/W1 channel and D1 S/R level. There was also a descending channel formed on the 1H/4H charts and day 1 of the recent 6 saw the bounce from this channel into the current move. This move should push for the retest of the D1/W1 channel. We look to be setting up for our pullback at the moment for a move to the 1D/W1 channel.
(BUY)
If it pushes down at current price 144.381 to the zone 143.771/143.559 or zone 142.932/142.781. This would give the pullback of the 50% levels for the move from the rejection of the 1H and 4H channel price breaks completely to the downside and pulls back to these lows.
TP1: 143.336
TP2: 143.771
TP3: 144.240
TP4: 144.602
TP5: 144.923
TP6: 145.504
After this the aim is to reach the channel ceiling.
(SELL)
If it breaks through lower zone for the sell
TP1: 142.490
TP2: 141.907
TP3: 141.023