Last week marked the consolidation for the most active assets of March 1-15 (which is oil and gold). But next week has a lot to show, be ready to take part!
GBP/JPY ending a possible bearish correction around 140.00
2019-11-11 • Updated
GBP/JPY has started a corrective phase on June 20th as it managed to find a top around 142.53. During the last few days, the pair was doing an impulsive move from June 12th exactly and one could expect a demand to be found around the 200 SMA zone at H1 chart, given that it coincides with the Fibonacci retracement level of 50% at 140.61.
If we witness a rebound over there, GBP/JPY might look for the 142.53 level in a first degree, but the major target is placed around 143.44, where the -23.6% Fibonacci retracement level is located. To invalidate the bullish scenario, the pair needs to break below 139.51 (78.6%). RSI indicator is oversold at H1 chart.
Similar
What happened? Japanese shares fell on Monday…
GBP/USD has managed to rise for the third trading day in a row including today’s Asian session, while the daily technical indicators are moving higher gradually.
Latest news
Jerome H. Powell, the Federal Reserve chair, stated that the central bank can afford to be patient in deciding when to cut interest rates, citing easing inflation and stable economic growth. Powell emphasized the Fed's independence from political influences, particularly relevant as the election season nears. The Fed had raised interest rates to 5.3 ...
Hello again my friends, it’s time for another episode of “What to Trade,” this time, for the month of April. As usual, I present to you some of my most anticipated trade ideas for the month of April, according to my technical analysis style. I therefore encourage you to do your due diligence, as always, and manage your risks appropriately.
Bearish scenario: Sell below 1.0820 / 1.0841... Bullish scenario: Buy above 1.0827...