The high was nice 157.71 and we got short 157.55. The profit order at 155.37 was done, as we had a low of 155.30.
For now I feel its neutral with some downside bias. Let's monitor it coming days again.
Unfortunately the idea of re-selling at 156.45 area did not reach as the high was only 156.23. The decline happened and in fact lower then the set profit target. That's life sometimes.
For now am neutral and will observe the behavior above the cloud support. will update coming days for now.
For now take the profit on the short we had 157.00-157.20 at current 155.50-155.70. Low was near enough to profit area 155.27.
For now feel we are neutral territory and likely we may see some up move back towards 156.50. I am not inclined to take position as yet as I cannot see clear confirmation as yet.
GBPJPY Analysis: Price is currently buying from support zone price 149.360. Price may continue buying to resistance zone price 160.925 on this long term daily parallel channel or may reverse to support zone price 153.336.
At the moment I am looking at OANDA: GBPJPY and I see possible two cases
FIRST CASE
the Pair might bounce off at 139.770 and continue with its upwards trend because that is where there is a huge support level which it has not broken below for quite some time now, and if it bonces off this support I am hoping for a continuation of the uptrend up until...
GBP/JPY is going through a choppy period currently. On the Monthly and Weekly charts we can see that price is currently testing key levels around 50% and 61.8% fib levels. It's important to keep a watch on this pair until we see how price continues to respond to this key area. I see two scenarios. On the 4 hour chart, we can see that price has already broken...
We are neutral on GBPJPY
* To Rise and come near 164.64 levels
Keeping all the above indicators in view along with the chart pattern we expect it to Rise. Our Buy call shall be from Buy above :163.00, SL:162.54, Tgt 01: 164.13, Tgt 02:164.64, Tgt 03: 166.21.
The view expressed here is on weekly basis. [b ]Caution: The above is our personal view. Neither a...
