GBPJPY strong support zone around 120

FX:GBPJPY   British Pound / Japanese Yen
Be careful entering positions on the gbp/jpy             which are longer than a week.
There is a strong zone of support around 120 lvls on the higher time frames.

For day traders you do have a small chance to short till 120, after which you can expect some kind of volatility . The meat of the move will happen around GBP septermber CPI             numbers tomorrow.

On the weekly timeframe there is a divergence of price and momentum, which is why there is also a strong possibility of a bounce up once prices goes down to 120. If there is a clean bounce off the 120 along with a follow through in the price and volatility for a few days after the bounce, I will look to enter a week long Buy position in GBP/JPY             once price moves above 136 and the patterns at that time support a buyers sentiment.

If the support at 120 is broken and I see follow through for the next 2 days, I'll look to enter short positions on the pullbacks as price legs down.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out