It is a pullback
The bullish flip on the higher timeframe is getting ready for the first scalp
We are still bullish on the overall higher timeframe
But for now we are expecting a pullback and perhaps new all time highs after NFP tonight.
When price breaks a high and returns to the low that broke the high, the first target in your long should be the high that delivered the low to you.
Sauce: If it stops at the target then rejects, the low will taken.
All credit to @DaveTeaches #DTFX
Overall, I am bearish on GBPJPY, but the last few days have been a bit indecisive.
However, for today, during the Asia session, I expect it to pull back, based on the gains from the NY session yesterday.
That's about it.
I expect NZDUSD to go down today during the Asia and London sessions because:
Overall trend is down on higher time frames
Today is pullback day from the highs attained from NY session yesterday
It's my first NZDUSD analysis (/s)
Will January decide its trend for the year?
A few attempts in the last 6 months to break it down..
Some news events - but are they really what determine the price? Price has already decided. Price before time.