EUR/JPY - TWIN REJECTION FROM THE 124.00 RESISTANCE LEVEL (MONTHLY)
38.2% FIB RETRACEMENT - WITH A TOP DOWN BEARISH BIAS.
RISK REWARD MAKES SENSE. FURTHER DOWNSIDE EXPECTED: 122.80 TARGET.
120.00 FURTHER FORWARD POTENTIAL.
Could possibly retest monthly resistance, LHs, LLs, MAs crossed and open! Monthly TL broken(strong!!!), Plus the tl retest! Target one is 108.00, this zone could possibly have some support, next target would be weekly support 106.90.
GBPUSD - RESIDING IN A FORMAL BEARISH PENNANT (DAILY)
1.4420 SEEMS TO BE A STRONG BARRIER (LOWER HIGH) POINT OF RESISTANCE.
1:2.3 RISK REWARD WITH A TARGET AT THE WEEKLY AREA OF SUPPORT 1.4260.
A BREAK OF 1.4260 WILL LEAD THE PAIR RELATIVELY LOWER TO 1.4200.
UJ has been bearish, constant LHs, LLs, and MAs have touched. NFP brought in buyers to continue the downtrend. 110.00 is quit strong, and UJ will break through this time. 38.20% fib level has also shown its strength.
Ever since GBPAUD broke the ctl I was short on the pair, but we saw quiet a reversal. GA smashed through Daily and, Monthly resistance. Forming HHs, HLs, MAs are still open. We could expect 1.670 to confirm the downward structure break for higher time frames.
Weekly bearish, USDCAD has been super bearish, MA's crossed over, (open), UC will try to break its previous lows on weekly, potential target for now is monthly support 1.2245 zone. Analyze bigger picture.