GBP/JPY Today's Target Point (November 29)
■Pound/Yen, Daily Target Points
Yesterday, it stayed firm above the +2σ of the Bollinger Bands; today it sits below +2σ, so +2σ may act as resistance. On a daily basis, there is a possibility of a pullback toward around 141.00 yen or around 140.90 yen where +1σ exists, so be prepared for a potential drop to around these levels.However, during Tokyo time, it looks like it could rise, so there is also a possibility of breaking above +2σ easily. If it clears around 141.50 yen near +2σ, we can expect a rise toward yesterday’s high around 141.80 yen or near 142.00 yen; if it shows momentum to push beyond 142.00, we should consider up to around 142.50 yen.
■Pound/Yen, 4-hour Target Points
The Bollinger Bands look like they are turning upward and may extend a bit more.
Remember thearound 141.25 yenlevel; as long as we do not break below this, we should maintain a bullish outlook and if it continues to risetoward around 141.42,around 141.48 to 141.50, with the 60-minute +2σ ataround 141.68 to 141.70, and yesterday’s high aroundaround 141.80, the 4-hour +2σ aroundaround 141.90could be near-term targets.
If this is brokento around 141.05 to 141.00, be cautious of the pullback; if the rebound is weak, we should watch for declines toward the middle line aroundaround 140.83andaround 140.70.
The Bollinger Bands look like they are turning upward and may extend a bit more.
Remember thearound 141.25 yenlevel; as long as we do not break below this, we should maintain a bullish outlook and if it continues to risetoward around 141.42,around 141.48 to 141.50, with the 60-minute +2σ ataround 141.68 to 141.70, and yesterday’s high aroundaround 141.80, the 4-hour +2σ aroundaround 141.90could be near-term targets.
If this is brokento around 141.05 to 141.00, be cautious of the pullback; if the rebound is weak, we should watch for declines toward the middle line aroundaround 140.83andaround 140.70.
■Scalping Fuuta’s Pound/Yen Target Points
Resistance
1, around 141.50 yen
2, around 141.80 yen
3, around 142.00 yen
Pivot Line※A line that is often watched as a milestone.
Around 141.50 yen
Pivot Line※A line that is often watched as a milestone.
Around 141.50 yen
Support
1, around 141.25 yen
2, around 141.05 to 141.00
3, around 140.93 to 140.90
※When trading, please proceed with responsibility and caution!
※When trading, please proceed with responsibility and caution!
■Today’s Outlook
We expect continued firm movement today; after rising toward around yesterday’s high during Tokyo time, it may consolidate, but it would be interesting if it extends further during European hours.
With Friday being the end of the week and month-end, movements toward next week and next month may begin, so let’s also check the weekly and monthly charts!
※Pound/Yen tends to be influenced by fundamentals, so when it moves sharply, be careful not to fight the trend!
――――――――――――――――――――――――――――――――――――――――――――
Scalping Fuuta’s daily market bloghttp://fxfighter-fuuta.link/
Fuuta’s Technical Study HPhttp://fx-fuuta.com/
Fuuta’s Twitter@fuuta_fx_trader
――――――――――――――――――――――――――――――――――――――――――――
1) An indicator that tells you impeccable timing never seen before
2) A new series Victory.ver indicator
× ![]()
