Pound-Yen Today's Target Point (November 26 Edition)
■GBPJPY, Daily Target Points
Yesterday opened with a gap up but did not fill the gap and continued higher, also surpassing Friday’s high, creating a strong situation where the candlestick is turning back.Today we are starting above the +1σ (Bollinger Band); so the level witharound 140.40 yenand the standard line and 10EMAaround 140.20 yento see if it will be supported.
If it is supported at either of these, then the +2σ level aroundaround 140.77,around 140.95could become the target; if it can push into the 141 yen area,around 141.15oraround 141.50could be targets.
This time I’d like to see an upside expansion move, but ifaround 141.50is rejected again, we should be cautious of a drop. For safety, also consider the possibility of a high being rejected from around +2σ.
■GBPJPY, 4-hour Target Points
The Bollinger Band is turning upward, and the 10EMA is crossing above the middle line and the 90-day line; even if it falls, the area aroundfrom 140.20 to around 10should provide a solid bottom.
Right now there is a ceiling by the cloud above, so I’d like to wait for a pullback, but momentum is strong and it may continue upward!
If it can surpass yesterday’s higharound 140.60,around 140.70 to 140.73, with +2σ up toaround 140.85 to 140.90possible.
The Bollinger Band is turning upward, and the 10EMA is crossing above the middle line and the 90-day line; even if it falls, the area aroundfrom 140.20 to around 10should provide a solid bottom.
Right now there is a ceiling by the cloud above, so I’d like to wait for a pullback, but momentum is strong and it may continue upward!
If it can surpass yesterday’s higharound 140.60,around 140.70 to 140.73, with +2σ up toaround 140.85 to 140.90possible.
■Scatroe Futa’s GBPJPY Target Points
Resistance
1、around 140.60
2、around 140.70 to 140.73
3、around 140.85 to 140.90
Pivot Line※A line that is often watched as a key turning point.
around 140.20
Pivot Line※A line that is often watched as a key turning point.
around 140.20
Support
1、around 140.40
2、around 140.20
3、around 140.00
※When trading, please proceed with caution and take responsibility for your actions!
※When trading, please proceed with caution and take responsibility for your actions!
■Today’s Perspective
Today should also be a solid day, with downside aroundaround 140.20and upside up toaround 140.80to be watched, aiming to buy the dips.
※GBPJPY is sensitive to fundamentals, so when it moves quickly, be careful not to fight the trend!!
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Scatroe Fuuta’s Twitter@fuuta_fx_trader
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