CapMoore

Price Hitting Yearly S2 and 161.8 Fib

FX:GBPJPY   British Pound/Japanese Yen
104 0 2
Price is close to hitting the Yearly S2 and has now completed
the Butterfly buy pattern. This opens up for great opportunities
of trading, in both directions. A failure to find support here will
likely be dramatic and may take price down to Monthly S2 at
157.90 and the 50% fib of large swing at 156.30. Note that it
is a 161.8 Butterfly , thus an extended D-level, thus not the
traditional 127 level. A daily pinbar (piercing line candle stick)
right at Yearly S2, may bring buyers in and a profittaking from
here.
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