GBPJPY rallied to 162.95. This so far marks the high for today's session. We cannot discount the possibility of the market breaking past that. If that happens, we may see price reading 163.85 which is yesterday's high. In the H1, we see price trying to break the higher high, higher low pattern. If successful, we can traverse back down to session lows and...
GBPJPY fell off 61.8% retracement support yesterday. If this breakdown persists, we should see 161.00. Given bearishness in the dailies, our main bias is to short. However, with more than a 1% swing yesterday from the high to the low, it's prudent to wait for a good bargain for entry. Using fibs, 162.95 is the 50% of yesterday's bearish leg 163.15 is the...
The bearishness from London Session seems to be holding on. However, in about 15 minutes from now, anything can happen with Powell's testimony in the US Senate. I currently don't have any positions. Wished I have some nice short positions ahead from this morning but I instead, took a long one and stopped myself out. I look forward to the close and see who wins...
The bulls from yesterday's move to today's Asian session has been taken out. The climb has been invalidated by the break of 163.30, the 61.8% retracement of the recent leg up. 2 things should happen from this point on. Either we see a real break of the range between 162.95 to 163.85 or we will just a continuous range. Powell will be testifying at the Senate...
We saw a tug-of-war between the bears and the bulls yesterday where a new high and low was created. Although bears dominated the close by bringing it lower than open, today's Asian session seems evident that we're going for a breakout to the upside instead. My main bias yesterday was a short because of the series of bearish candles from March 1 onwards. But...
I'm looking forward to a break of 163.00 (61.8% support)on GBPJPY on the basis of a series of bearish candles on the daily chart. Entry is at 163.33 with a stop loss at 163.55. I'm exposing a half position for this with a TP at 161.3. This might take some time.
We have seen a good rally in equities since last week. Monday was a huge run up that was met with an equal amount selling yesterday. As of press time, Dow futures has broken yesterday's low. We might be seeing some sort of bearishness near term. The best entry for an intraday short was about 2 hours ago. Given the late entry for a short opportunity, there...