My View On GBP/JPY, Please Comment Your Thoughts

19 thg 1, 2020

Price has hit off the key 50% golden zone and is now on its way to hit off the the bottom 61.8 golden zone (1), then rally to just below the top 50% golden zone (2), then making its next move to the bottom 61.8% golden zone (3), finally, retesting the yellow support level (4) to continue to the down side. Keep in mind that price is at a crucial level of resistance on the Daily time-frame and higher. To be completely safe, you should wait for the retest at 'point 4' before you make a short position.

This prediction and analysis was conducted based off ...
- On Balance Volume
- Fibonacci Levels (Retracements of the 50% and 61.8%)
- Elliot Wave Theory
- Long term moving average (SMA)
- Kijun sen
- Tenkan sen