GBPJPY, 23-03-15, Asian Session

FX:GBPJPY   British Pound / Japanese Yen
Bulls have indeed made their mark by breaking beyond 163 and hitting 164. We see a higher high and higher low pattern in the dailies.

The Main Bias is to go long around the low side of yesterday's price action that is around 161.80 to 162. This is about 50% retracement (bargain) of the bullish leg.

The Immediate Bias is to go against the trend by shorting around 163.5 in the expectation of a slight correction in price.


The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.