GPBJPY Higher highs

6 thg 11, 2018

I have done my best to use more price action and structure more past few days to have a better understanding of it. But at the same time by cross comparing it with MAs too. this is just my thoughts on the pair, feel free to share your ideas on this too. enjoy!

As you can see this strong impulse bounced off the 61.8% before the end of the week, testing the trend line support level (Red Line). With momentum on its side GJ has broken through the 200 Daily on last weeks close. My next resistance would have to be the 50MA weekly (78.60%) we might see a small pullback around this zone and will be entering on the retest if this happens.

-Saifan