GBPJPY remains choppy and in unstable territory. I am biased for SHORT, due to the weekly wick we received after testing 145.000 strong support level, possible sign of downtrend continuation after very good consolidation period.
I am shorting, this week should be a massive week in trend continuation/break. I expect a continuation of the downtrend, but possibility of higher prices remains.
Key levels:
145.000 strong weekly support
140.000 Massive support lvl
150.000 first big resistance lvl
155.000 Massive resistance lvl
This week I will be watching for any bearish sings.
Scenario 1: Expecting a break of 145.000. If we break 145.000 then there is no real support until 140.000.
Scenario 2: We rally to 150.000 and break resistance, then the next target is 155.000.
Will watch stocks for bias as it gives a good general idea of where the market is going.
Also some good volatility news this week. Watch the news boys :)
I am shorting, this week should be a massive week in trend continuation/break. I expect a continuation of the downtrend, but possibility of higher prices remains.
Key levels:
145.000 strong weekly support
140.000 Massive support lvl
150.000 first big resistance lvl
155.000 Massive resistance lvl
This week I will be watching for any bearish sings.
Scenario 1: Expecting a break of 145.000. If we break 145.000 then there is no real support until 140.000.
Scenario 2: We rally to 150.000 and break resistance, then the next target is 155.000.
Will watch stocks for bias as it gives a good general idea of where the market is going.
Also some good volatility news this week. Watch the news boys :)