BUY Bias on GBPJPY,
this pair surely in a buy bias as sterling skyrocketed after the Uk election. plus a weaker Yen last thurdsday dec 12, beacause of trumps tweet regarding on US-china trade deal that give the US dollar a boost,
Trade Idea:
Waiting for a confimation bounce upward
A Breakout and a retest on 146.400 would be a nice entry.
leaving a stoploss below...
Long Idea:
after a big move upward due to UK elections,the Sterling burst and confirming that the bulls still have the control.
A 50% retracement move is seen in the cable, and we are expecting for a bounce.
Trade idea:
If price moves above 1.3360 its a confirmation for a long position.leaving a stop loss on 1.33140
WEEKLY VIEW: NOV 25-29
Fundamental:(EUR Zone) Sell bias,PMI last week data gives a weak sentiment on the EUR and in a addition, we are expecting the ECB to cut rates an additional 10bps to 60% at its december policy meeting.
Technicals:EURAUD
Key Level Resistance seen on 1.63200 ;
Key level Support 1.6200
