GBPJPY Forecast January 16-20

Short Bias, Still waiting for that pullback to happen before shorting, it seems less likely as days go by, perhaps a break of support and a minor pullback before more down moves.

This is my forecast for the week ahead. It will be updated everyday during asian session for any changes. Do scroll down to look at the comments for updates.

If my charts are not clear, you can pm me anytime to ask any questions, I am more than willing to help. And if you want to look my my positions, you can click my etoro link from my profile, you will see my trading positions under portfolio.

Nothing is 100% in trading, it is a game of probabilities. Be nimble when trading, never have a strong bias. I can turn from bullish to bearish in a day if price action tells me so.

Comment:

Tuesday

Still bearish, look for a pullback to short to the next support.

Comment:

Wednesday

Technically we are still in a downtrend and it looks like a pullback is complete. Now we want to see that 138.50-90 support broken to continue the downtrend. However if they hold, we have to consider that the downmove has complete and a new bullish trend has started.

Comment:

Thursday

Trend has changed, looking to buy on pullbacks.

Comment:

Friday

Still looking to buy on pullbacks.