Following the market's respect for previous resistance levels (dotted red lines), along with the higher lows (solid black lines), we can expect a breakthrough around the price of 1.01886.
Speculating strong resistance around 1.05800 price is expected to dabble and potentially rise towards our sell point at 1.05996 before breaking resistance and continuing downward trend. *not too sure about my use of the Fib. - however mainly for my understanding of how the price travels through zones*
Price is expected to move closer towards the downward trend line around 1.05700s before retracting and breaking through resistance around 1.05270.
Following a halt at a strong resistance around 87.220, price is expected to fluctuate over second resistance at 87.080. CCI displaying market over-sold suggest a breakthough short enroute. *experimenting a strategy* *please leave feedback*
Upon reaching familiar resistance GBP/JPY is expected to repel and shoot long over the next few days.
Expecting bullish behaviour following the latest news reports on the Japanese economy.
After falling to a familiar resistance the market is expected to display bullish behaviour from this point onwards.
Following the of the market at price 1.3155 after fluctuation within Target 1*, I am expecting a short in the market to continue long.
Familiar resistance around 1.3214 indicates some noise followed by a sharp bearish movement. Price may fall towards double bottom around 1.3155. Depending on the news to come we may see this behaviour continue.
Price level has generally been climbing previous resistance levels. Grey area shows interruption of typically bullish movement.
(apologies for the messy confusing graph, just how I understand) Still expecting the market to reach the original target of at least 1.56720 in the long term. In the more short term, the market may follow the "more likely" red arrows and fall just above the 0.382 into the blue area before continue to go long until the "less likely" weaker resistance around...
Trend will avoid the red area, jumping between orange resistance and support. This will continue until it reaches the second channel (Within a day or two) where it will then display bullish behaviour trending upwards From around 1.57250. (Testing new strategy)