GBPJPY Today's Target Point (November 27 edition)
Good morning everyone(^^)/
■GBP/JPY, Daily target points
Yesterday it rose to just below 141 yen, but afterwards faced selling pressure, and today it is staying around 140.23 above the 10-day EMA.■GBP/JPY, Daily target points
There may be selling pressure due to yesterday's heaviness in the upside, but near the 10 EMAaround 140.13, or around 140.07 to 140.00 where the middle line isaround 140.07 to 140.00, this area seems solid so if Tokyo session holds without dropping, a rise may come again…
If it surpasses around140.30 to 140.32, there is a +1σ around140.39,around 140.53 to 140.47 becomes a consideration, and beyond that,140.75, the previous high around140.90seems to be the key level.
If it breaks below around 140.00, it could move to around 139.70 where +1σ lies or around 139.38 where -2σ lies
■GBP/JPY, Four-hour target points
Bolinger bands are flat with a double-top feel and downward pressure, but it is also in a triangle consolidation, so the middle line, the 90-day line, and the trendline support may provide supportaround 140.15 to 140.10and seem to offer support for now.
If it holds and moves upabove 140.30 to 140.32and breaks above the upper cloud and +1σ around140.45, it could target the triangle upper bound and +2σ around140.85.
Bolinger bands are flat with a double-top feel and downward pressure, but it is also in a triangle consolidation, so the middle line, the 90-day line, and the trendline support may provide supportaround 140.15 to 140.10and seem to offer support for now.
If it holds and moves upabove 140.30 to 140.32and breaks above the upper cloud and +1σ around140.45, it could target the triangle upper bound and +2σ around140.85.
If it breaks the 90-day line and goes belowaround 140.12on the 60-minute chart,around 140.00 to 139.95,around 139.85, also the 60-minute chart's -3σ, so a reversal may occur here. If the reversal is weak,around 139.55, it may fill the gap from the day before around139.45.
■Scalping Fujiuta’s GBP/JPY target points
Resistance
1、Around 140.30 to 140.32
2、Around 140.39
3、Around 140.47 to 140.53
Pivot line※A line that traders watch and can become a key turning point.
Around 140.39
Pivot line※A line that traders watch and can become a key turning point.
Around 140.39
Support
1、Around 140.15
2、Around 140.07 to 140.00
3、Around 139.80
※When trading, please proceed with caution and take personal responsibility!
※When trading, please proceed with caution and take personal responsibility!
■Today’s perspective
Today too, I expect the 140 yen range to hold and the Tokyo session to favor buying on dips.
If it falls, I would watch for touch near the 60-minute chart’s +2σ and then be cautious of declines in the European session, watching for a new low!
On daily and 4-hour charts, the same levels tend to act as resistance and support…
Let’s do our best without overdoing it today as well. Thank you (#^^#)
※GBP/JPY is highly influenced by fundamentals, so when it moves quickly, be careful not to go against the flow!
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