GBPJPY analysis for Week 6

7 thg 2, 2018

Weekly: On weekly timeframe, yesterday we saw a bounce from 18EMA
Daily: Price formed a hammer candlestick and bounce from the parallel channel.
There are 2 scenarios here:

• If price breaks below the parallel channel and close below the 50MA on the daily timeframe. I then will expect 147.500 to be met
  
• If price bounces from the parallel channel again with MA crossover on the 2H timeframe. That's will be my favorite trade and 155.00 could be met again