With weaker data from China and event of the week @ Doha with OPEC ; flight to risk off havens such as JPY might be in order Monday.
Charted GBPJPY-0.19% as the cloud over Brexit is still talking point for GBP and if this entry is hit and prices drop - theres no knowing where this will stop until quite possibly further interest rate cuts into negative territory by the BOJ - Intervention not likely with G10 summit upcoming. Japanese Nikkei yields not too flash and shares dropping ; influx of CNY-0.68% capital and likely further increase in JPY.
Speculative fundamentals aside - plenty of structural resistance at 155.2xx level as well as descending , MA 200 and daily levels. Likely to make a dash up to 155.5xx where it is also just below the completion of a possible OR .
But first, it'll have to break 50 MA & 154.8xx
Brainchild of TV chat after light talk with @Ata-Turkoglu.
Key levels to watch 154.8xx ; 155.2xx ; 155.6xx
-Trade your plan and within your Limits-
This is very heavy sentiment and news based trade as there is also an ascending triangle forming - talks of G20 'softening' on BOJ to intervene.... Hearsay or not. I am happy to miss this if price does not enter my level of entry.