Strong week for sterling, was unlucky on our trades that hit the in profit SL. We got the GBPJPY reversal wrong. Moving onto the week ahead we are wanting to buy GBPJPY on a slight pull back, back to the 4hr support and weekly trend line.
We are expecting the market to continue to drop to the 38 Fib Zone, which is on a Ascending trend line, and also 4hr Support level.
We a looking to buy at 0.79964, we have set our TP around 600 Pips up on the weekly resistance level, but will be actively managing the trade and moving SL once we are around 40 Pips in profit.
We are looking to short USDJPY on the 4hr resistance level of 108.944 and expecting a run down to our TP level of 107.145 (around 180 Pips)
The market opened bullish on the back of North Korea not testing any more missiles over the weekend, all safe haven currencies have lost value sort term, however we expect the market to continue dropping.
We expecting to be selling on the daily level of resistance however the market opened and Gapped.
We had to react and change are sell order to the monthly level of 109.875
Looking for a run down to daily support of 107.193