We saw the reversal at the 150 handle, as projected before and during the FED and BoE rate releases. We're down 200 pips...the projection is to 144 so we have another 400 pip decline ahead of us. That said, will be looking for were to jump in (or add) to current shorts. Based on Friday's close, the only areas at the moment where I'm looking for a pivot and...
Setup for potential double bottom off the day's LO's, for a possible retest back towards the HI's; Otherwise and overall, still in favor of a further decline in price.
Looking to see further resistance and begin the move downward, post US Fed and BoE news.
Setting up for the short position just above the 150 handle for a nice ride down towards 144. Based on previous Support, Resistance, Supply and Demand areas.
Based on Support and Resistance levels, here is my projected price action for the upcoming week (or longer) on GBJPY. With the upcoming rate decisions this week, we may see the added volatility to speed up this forecast.