Pound-Yen Today's Target Point (December 3rd data)
Good morning, everyone(^^)/ Yesterday, it retraced after being rejected near the recent high, and this morning it’s hovering around 141 yen.
Although it was extending smoothly, in the end it was difficult around the +2σ on the 4-hour chart!
■GBP/JPY, Daily Target Points
Yesterday made a long upper shadow with a bearish candle and breached the support line trend. Be cautious of selling on bounces here.Although it was extending smoothly, in the end it was difficult around the +2σ on the 4-hour chart!
■GBP/JPY, Daily Target Points
However, the levels around the daily +1σaround 140.98 yenand the levels around the 10EMAaround 140.85 yenmay still attempt a pullback while staying above them, so be careful with taking easy shorts.
If it moves into the 140 yen range and breaks below the 10EMAaround 140.55 yenand the middle linearound 140.35 yenwatch for further decline.
■GBP/JPY, 4-hour Target Points
The Bollinger Band is squeezed and sideways, located near -2σ, so a pullback is likely in the near term. The area around -1σ isbetween 141.18 and 141.20 yen, with the10EMA around 141.27 yen, and themiddle line around 141.40 yen, and furtheraround 141.60 yen up to.
If the current candle closes bullish and clears the previous candle, it may retrace up tobetween 141.30 and 141.38 yen, so be cautious about shorts.
If it breaks below -2σaround 141.95 yen, it will expand downward, sowatch for declines toward 140.80 and 140.70 yen,and toward 140.50 to 140.45 yen; be careful.
MACD is crossing down, so be cautious of pullback selling.
The Bollinger Band is squeezed and sideways, located near -2σ, so a pullback is likely in the near term. The area around -1σ isbetween 141.18 and 141.20 yen, with the10EMA around 141.27 yen, and themiddle line around 141.40 yen, and furtheraround 141.60 yen up to.
If the current candle closes bullish and clears the previous candle, it may retrace up tobetween 141.30 and 141.38 yen, so be cautious about shorts.
If it breaks below -2σaround 141.95 yen, it will expand downward, sowatch for declines toward 140.80 and 140.70 yen,and toward 140.50 to 140.45 yen; be careful.
MACD is crossing down, so be cautious of pullback selling.
☆☆☆ Scatore Fuuta’s Target Points ☆☆
【 Sell-on-Rally Points 】
1, around 141.25 yen
2, around 141.38 to 141.40 yen
3, around 141.50 to 141.56 yen
Pivot Line※This is a line that is often watched as a milestone or turning point.
around 141.28 yen
Pivot Line※This is a line that is often watched as a milestone or turning point.
around 141.28 yen
【 Buy-the-Dip Points 】
1, around 140.98 yen
2, around 140.80 yen
3, around 140.50 to 140.45 yen
※When trading, please trade at your own risk and be very careful!
※When trading, please trade at your own risk and be very careful!
【Fibonacci Points】
23.6% around 141.25 yen
38.2% around 140.87 yen
50% around 140.57 yen
61.8% around 140.27 yen
38.2% around 140.87 yen
50% around 140.57 yen
61.8% around 140.27 yen
■Today’s View
Since it is rebounding off -2σ on the 4-hour chart, during Tokyo time it may first attempt a pullback. After that, whether it is pushed by selling to resume higher or move up again will depend on the selling conditions from the European session onward.
Alright everyone, let’s be cautious and do our best today as well.
※GBP/JPY is sensitive to fundamentals, so when it moves suddenly, don’t fight the flow and be careful!
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Scatore Fuuta’s daily market bloghttp://fxfighter-fuuta.link/
Scatore Fuuta’s technical study sitehttp://fx-fuuta.com/
Scatore Fuuta’s Twitter@fuuta_fx_trader
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