- Monthly M.A. down
- Weekly M.A. down - Wicks spiking through 8 EMA
- Daily M.A. down, strong Daily close below 0.8775 preferred.
H4 : Price broke through our C.T.L. but is not able to go through 0.8775 yet. Would like to see a strong bearish close (daily preferred) below.
- Monthly M.A. down
- Weekly M.A. down but moving closer together
- Daily M.A. up
Wait for price to bounce from one of the Ascending Trend lines. 61.8% FIB zone preferred.
This play comes in alignment with the Dollar Index.
Only enter this trade from a break of the C.T.L and retest of one of the FIB levels or C.T.L.
*This trade will be invalid if price falls...
Possible short opportunity on USDJPY since I still see some bearish movements in DXY.
- Wait for break of Counter Trend line
- 4H candle close below the highlighted box
( if this doesn't happen and price keeps ranging draw another Counter Trend line and wait for the 4H candle to close below the box )
The trade is taken from a monthly key level and our 61.8% FIB...
My GBP/JPY Analysis for the week ahead.
Will we break the descending trend line and close above our 78.6% FIB our will PA respect our favourite regions and go for
another retest of our Weekly Support 147.50.
Last two weeks we have had a nice bullish run up to 94.00.
There are a few options that are on my mind.
- We either break 94.00 and have 96.00 as our next target.
- We have a nice Daily close below 94.00 and aim for 93.00 as our first target.
- 93.00 Will also be a critical level to see if price will break it our bounce back to 94.00 > Probability of breaking...
