Are you shorting the cable? No. No. No! Don't! Why? It's because the cable is strongly bullish. The bulls are in control of the market. Remember, the trend is your friend. Don't go against the trend, dear trader. This analysis is from the H4 timeframe.
Currently, the resistance level has been broken and retested, and the price is heading to the level of 1.24071....
Prices have recently broken out of our ascending trendline support. We see the potential for a short from our sell entry at 1102.34 in line with 61.8% Fibonacci projection towards our Take Profit at 1095.71 in line with 78.6% Fibonacci Retracement. Ichimoku is supporting our bearish bias.
Any opinions, news, research, analyses, prices, other information, or links...
here is our Previous Analysis and Markey Tracking of the Currency Pair:
Fundamental Analysis:
The GBP/JPY pair tells the trader how many Japanese Yen (the quote currency) are needed to purchase one British Dollar (the base currency).
It is known to be a “carry currency cross”, that is a cross which is a vehicle for carry trading, a strategy that consists...
CHFJPY after making a swing high, correct itself to fib level 0.236(123.629).
One can attempt to buy here
Buy: 123.620 - 123.800
SL: 123.380
TP: 124.500
Eurjpy The price does not react to the support level and is pressed towards it under the pressure of sellers. I'm waiting for a breakdown of local support and a price decline to the level of 127.2
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H4/Daily = Short.
If we can break out of this trend then we are long - long term.
Please check daily, weekly, and Monthly charts.
Thoughts? comment below.
Looking to short AUDUSD we have a bit of a bearish channel that looks like it may hold up.
FIB is unconfirmed. Trend is unconfirmed
Zone is unconfirmed. Risk management is needed
