GBPJPY Daily S/R| .382 Fibonacci| Price Action| Local S/R
Evening Traders,
Today’s analysis – GBPJPY- trading below Daily S/R where a rejection is probable,
Points to consider,
- Price action impulsive
- Daily S/R Resistance
- Local S/R Support
(.382 Fibonacci Confluence)
- Oscillators Neutral
GBPUSD’s immediate price action is trading below Daily S/R allowing for a bearish bias.
The current support is in confluence with the .382 Fibonacci, price is likely to respect this level.
Both oscillators are trading neutral; a reversion to their mean is highly probable.
Overall, in my opinion, GBPJPY is a valid short with defined risk, price action is to be used upon discretion/ management.
Hope this analysis helps!
Thank you for following my work
And remember,
“You become fearful the moment you identify with fear. But once you begin seeing it as an impersonal changing phenomenon, you become free.”
― Yvan Byeajee
Today’s analysis – GBPJPY- trading below Daily S/R where a rejection is probable,
Points to consider,
- Price action impulsive
- Daily S/R Resistance
- Local S/R Support
(.382 Fibonacci Confluence)
- Oscillators Neutral
GBPUSD’s immediate price action is trading below Daily S/R allowing for a bearish bias.
The current support is in confluence with the .382 Fibonacci, price is likely to respect this level.
Both oscillators are trading neutral; a reversion to their mean is highly probable.
Overall, in my opinion, GBPJPY is a valid short with defined risk, price action is to be used upon discretion/ management.
Hope this analysis helps!
Thank you for following my work
And remember,
“You become fearful the moment you identify with fear. But once you begin seeing it as an impersonal changing phenomenon, you become free.”
― Yvan Byeajee