A s you can see the 10550 is a major resistance, Monthly and Weeily pivot here not to mention the descending trendline and the overbought state. I am looking for a pullback on monday and buy the new low around 10320-10260.
In the first 2 hours of trading UJ managed to carve 30 pips lower to 106.3 but since then UJ has edged higher to 106.8 highs (atm 106.7).
Whether we will hit the target at 105. im not sure, the starting data has been mixed.
Whilst we ticked lower 40 pips which was a good sign, we quickly pulled back all of them and $yen is now trading 50 pips up from the lows -...
Looking for the GBPNZD, the situation is very similar to GBPAUD. A great pattern is getting formed and it's possible to see a great spot to get LONG.
Trend is up and there are good odds having long in this strategical spot, as well a good risk/reward.