GBPJPY-long against 0.61 fib retracement
This pair seems to be starting a series of 1-2 s
Right now is making a nice 0.61 fib retracement.
I will buy here with SL and targets shown on chart:
Currency correlation (this pairs depends directly from the GBPUSD and USDJPY)
- GBPUSD- from my point of view is starting a rally or at least will stays sideways but i doubt it
- USDJPY- testing a strong support, so could react and make a small rally before dropping finally. We can see it clearly on USDJPY weekly chart (currency correlation is useful! why not to use it?)
Regards.
Right now is making a nice 0.61 fib retracement.
I will buy here with SL and targets shown on chart:
Currency correlation (this pairs depends directly from the GBPUSD and USDJPY)
- GBPUSD- from my point of view is starting a rally or at least will stays sideways but i doubt it
- USDJPY- testing a strong support, so could react and make a small rally before dropping finally. We can see it clearly on USDJPY weekly chart (currency correlation is useful! why not to use it?)
Regards.
Comment:
first target hit, moving sl to be