Pound-Yen Today's Target Point (December 5th)
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Good morning, everyone!(^^)/
■GBP/JPY, Daily Target Points
Yesterday, the price broke above around the recent high near 141.80, formed a long bullish candle, and this morning is around 142.63.■GBP/JPY, Daily Target Points
The Bollinger Bands are expanding significantly, and the daily +2σ is turning upward, so if it has a +2σ,around 142.50is a potential support, we would like to see it bounce higher!
If it bounces upward,around 143.00, with the +3σ ataround 143.30, and near the upper end of the recently-range price movementaround 143.70seems to be the upside target.
If it falls below the +2σ aroundaround 142.50,around 142.20oraround 142.00,around 141.80watch for downside risk.
■GBP/JPY, 4-hour Target Points
On the 4-hour chart, it feels like it may drop from +2σ, but since it broke higher beyond around 141.80, be cautious about shorts.
The basic plan is to look for buying on dips; given this morning’s mood, it seems it might rise further, but first look for a dip entry, starting witharound 142.50, and if it breaks below this, there is +1σ aroundaround 142.13,around 142.00, where a rebound is expected.
If it continues to rise,around 143.00, with +3σ ataround 143.16 to 143.20,around 143.40, the target seems to bearound 143.70.
On the 4-hour chart, it feels like it may drop from +2σ, but since it broke higher beyond around 141.80, be cautious about shorts.
The basic plan is to look for buying on dips; given this morning’s mood, it seems it might rise further, but first look for a dip entry, starting witharound 142.50, and if it breaks below this, there is +1σ aroundaround 142.13,around 142.00, where a rebound is expected.
If it continues to rise,around 143.00, with +3σ ataround 143.16 to 143.20,around 143.40, the target seems to bearound 143.70.
☆☆☆ Scatre Fohta’s Target Points ☆☆☆
【Sell-Rally Points】
1, around 143.00
2, around 143.16 to 143.20
3, around 143.70
【Pivot Line】※A line that traders pay attention to and can become a milestone.
around 142.10
【Buy-on-Dip Points】
【Pivot Line】※A line that traders pay attention to and can become a milestone.
around 142.10
【Buy-on-Dip Points】
1, around 142.50
2, around 142.13 to 142.10
3, around 142.00
※When trading, please do so at your own risk and with careful consideration!
※When trading, please do so at your own risk and with careful consideration!
■Today’s View
We remain bullish today as well, aiming to buy on dips and enter after a solid pullback.
If you enter a short position at a retracement point, imagine exiting if prices fail to drop further!
Fundamentally, the target is likely the upper end of the recent price range, so I’ll be cautious about shorts up to around 143.70.
※GBP/JPY is sensitive to fundamentals, so when it moves abruptly, don’t fight the trend and be careful!!
Alright everyone, let’s stay careful today as well. Best regards!!
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Scatore Fuuta’s Daily Market Bloghttp://fxfighter-fuuta.link/
Scatore Fuuta’s Technical Study HPhttp://fx-fuuta.com/
Scatore Fuuta’s Twitter@fuuta_fx_trader
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