GBPJPY will be looking good for a long position if we see a strong close above the wick it is currently filling. We have seen a nice break and retest of the previous high that sits just above the zone. Targeting the next swing high/zone above (144.500) .
Xrp looks have broken the range that had been forming through August, potentially looking to come back and retest the zone before shorting further. It may just be pushing down to remove orders from the market as it has not yet retested the previous swing high.
My update on GBPJPY, as the pair has been ranging for the past day or two it has been slowly creeping upwards and has taken out the "tweezer top" that formed on the 13th of August. As this has been happening my daily bias has been edging towards a long position, if we see a clean close in the four-hour chart above said: "tweezer top" that will be my confirmation...
USDJPY has broken out of the wedge formation with a clear re-test in the one hour chart, before moving long. It now looks to be turning back over to come and re-test the level again. This level just so happens to sit near our 50 fib on 106 flat (key level).
On GBPJPY we seem to have been forming an expanding wedge for the last several days. It is now at a crucial stage as to whether it turns over and shorts back down to support or breaks and heads up to previous highs.
In CHFJPY we have seen a break and potential retest of the trendline marked out. It then looks to have formed a "double bottom" and pushed back up to the "neckline". Will price break or reverse? I will be looking for a clean reversal from this level and them looking to short. However, if we see a clean break and retest i will be looking to enter a long position.
