Following on from the previous impulse move tot he downside where GBPJPY extended to the -0.272 Fibonacci level, we are now seeing a retracement. Watching the 0.5 Level of the latest impulsive move down, along with the red parallel channel formed from the April 30th highs. Will wait for confirmation on 1 hour timeframe before entering.
Price has already moved well past the daily ATR range. Speculators have added to their long positions on the Yen by a considerable margin whilst the Pound remains relatively flat.
If you have any ideas supporting or on the contrary to my opinion please leave a comment.
Thank you and happy trading :)
Disclaimer: This is not financial advice.
Price has already moved well past the daily ATR range. Speculators have added to their long positions on the Yen by a considerable margin whilst the Pound remains relatively flat.
If you have any ideas supporting or on the contrary to my opinion please leave a comment.
Thank you and happy trading :)
Disclaimer: This is not financial advice.