Tendorian

GBPJPY Forecast February 2017

FX:GBPJPY   British Pound / Japanese Yen
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Depending on today's moves, we may see a change in trend, however if price can climb back above that 143.80 resistance, we are still up.

This is my forecast for the month ahead. It will be updated everyday during asian session for any changes. Do scroll down to look at the comments for updates. I'll be using Daily charts from now on, cos that's the TF that I actually use.

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 at 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: Wednesday Feb 1

This 142.15 resistance is very important today. If price can climb back above we are still going up, else if it fails, a big fall is coming tomorrow.

Comment: Thursday Feb 2

That support becomes important today, it may be tested today, a break there means more down moves. I favor selling GBP pairs for today.

Comment: Friday Feb 3

I prefer seeing a break of support to set up a big fall next week.

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