Hope you all had a great weekend. Looks like our active trades are making great progress to start the week, so let's try to keep the momentum going! The GBPJPY pair has been up trending on the Weekly chart since 3rd October 2016 and we can see price has touched down on the lower uptrend level a few times since then and has respected this trend line. Most ...
Our preference: sales position below 141.20 with targets at 139.50 & 138.10 in extension. Alternative scenario: in excess of 141.20, aim for a continuation of the increase with 141.80 & 142.65 in line of sight. Comment: as long as 141,20 is not exceeded the risk of a depression of 139,50 is important.
Pivot: 140.00 Preference: long positions above 140.00 with targets at 148.50 & 151.75 in extension. Alternative scenario: below 140.00 look for further downside with 135.75 & 132.60 as targets. Comment: the RSI lacks downward momentum. Supports and resistances: 155.70 *** 151.75 *** 148.50 *** 144.00 Last 140.00 *** 135.75 *** 132.60 ***
Take care & analyzed it again - it`s always your decission ... (for a bigger picture zoom the chart) This is only a trading capability - no recommendation !!! Next week i`ll confirm or change my opinion about this SetUp :) Buying/Selling or even only watching is always your own responsibility ... Best regards Aaron