GBPJPY Weekly Target Analysis

This is my projection for GBPJPY this week. While There are both selling and buying opportunities this week, traders ought to beware of where the market will retrace and rally to the upside as well. Upon the market open 5pm Sunday est., price rallied to the upside and tested a previous level of resistance at 139.015 and pushed to the downside. Expecting a retracement at the 38.2% Fib level before rallying to the upside hitting a take profit target at 139.015 and potentially hitting a 0% Fib level if price doesn’t test the previous resistance level at 139.015 and again pushback to the downside. Also want to note 1hr buying (scalp) opportunities as well.