GBP/JPY Today's Target Point (December 2)
We have entered December! At the start of the month, at the beginning of the week, the GBPJPY opened somewhat with a gap down, starting around 141.40 yen.
■GBPJPY, Daily Target Points
While making new highs and MACD looks weak, GC and Bollinger Bands are expanding, so the near-term outlook is bullish; however, there is a +2σ above, so Friday’s high around141.70 yenmay act as resistance.■GBPJPY, Daily Target Points
From the morning mood, the bottom may be solid, soaround 141.40 yenrise,surpassing around 141.65 to 141.70would open the way toaround 141.85,around 142.00, and if it stays solid on the 142 yen range,around 142.10 and the area with +3σaround 142.30, we can expect a rally up to there.
If the upside is heavy andaround 141.40 to 141.35is breached, watch for a decline to the area with +1σaround 141.02 to 141.00; if the rebound is weak, watch for the drop to the area with the 10 EMAaround 140.85oraround 140.50,around 140.40, monitoring whether it finds support there.
■GBPJPY, 4-hour Target Points
The Bollinger Bands are turning up, suggesting a high staying power; it looks like it wants to move higher, so I’d like to see how the Tokyo market reacts first.
If it continues rising supported by the 10 EMA, there is a +1σ level around141.60 to 141.70; if there’s no selling there, the +3σ level around141.80 to 141.83, and aiming for a rise to the round numbers or +2σ around142.00 to 142.07would be favorable.
This morning, upside momentum seems a bit heavy, so if it breaks below the 10 EMA around141.35 to 141.33, watch for a decline to the midline around141.10; if the rebound is weak, observe whether it finds support around141.00.
The Bollinger Bands are turning up, suggesting a high staying power; it looks like it wants to move higher, so I’d like to see how the Tokyo market reacts first.
If it continues rising supported by the 10 EMA, there is a +1σ level around141.60 to 141.70; if there’s no selling there, the +3σ level around141.80 to 141.83, and aiming for a rise to the round numbers or +2σ around142.00 to 142.07would be favorable.
This morning, upside momentum seems a bit heavy, so if it breaks below the 10 EMA around141.35 to 141.33, watch for a decline to the midline around141.10; if the rebound is weak, observe whether it finds support around141.00.
■Scalper Fuuta’s GBPJPY Target Points
Resistance
1、around 141.50
2、around 141.70
3、around 141.83
Pivot Line※A line that traders often watch as a key turning point.
around 141.46
Pivot Line※A line that traders often watch as a key turning point.
around 141.46
Support
1、around 141.35
2、around 141.15 to 141.10
3、around 141.05 to 141.00
※Please trade at your own risk and take care!
※Please trade at your own risk and take care!
■Today’s View
I’m hoping for an upside breakout in GBPJPY, but since the week is the start of the month, it feels like a wait-and-see mood.
In the weekly chart, it’s riding the upper boundary of the Ichimoku cloud (around 141.15). If this area holds as support, I’m bullish; if broken, I’ll switch to a bearish view for now.
This week looks interesting!!
Let’s not overdo it today as well. Thanks for your support this week (#^^#)
※GBPJPY is sensitive to fundamentals, so when it moves strongly, please avoid going against the flow!!
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Scalper Fuuta’s Daily Market Bloghttp://fxfighter-fuuta.link/
Scalper Fuuta’s Technical Study HPhttp://fx-fuuta.com/
Scalper Fuuta’s Twitter@fuuta_fx_trader
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