Looking for GJ to catch a nice up move push here in the London market. We saw a massive intervention from BOJ driving price down to current levels where it seems to have got a foothold on some form of support.
1D 50MA seems to be acting as support and in previous occasions buying when it rejects this zone has proven nice. Looking for at least a retrace so we dont have to go all the way up to be correct. 3 nice retrace targets would be near 103 / 104 / 104.8 giving you a small retrace in terms of the overall drive down but more than enough pips to make a good risk / reward trade collecting from 100 / 291 pips.
1D 50MA seems to be acting as support and in previous occasions buying when it rejects this zone has proven nice. Looking for at least a retrace so we dont have to go all the way up to be correct. 3 nice retrace targets would be near 103 / 104 / 104.8 giving you a small retrace in terms of the overall drive down but more than enough pips to make a good risk / reward trade collecting from 100 / 291 pips.
Trade closed: target reached:
Book profit 170 pips