GBP/JPY Target Points for Today (December 6)
■Pound/Yen, Daily Target Points
Today, the +2σ isaround 142.95, so we will monitor whether it finds support around143.00 to around 142.95. Until this is broken, continue buying on dips.
If we clear above yesterday's high near143.25, the target seems to bearound 143.70.
If there is a rebound around the +2σ ataround 142.95and it weakens, beware of a pullback; on the daily chart, the 10 EMA isaround 141.83, so on the 4-hour or 60-minute chart, consider a support line around that area.
■Pound/Yen, 4-hour Target Points
On the 4-hour chart, it’s in a high-level consolidation. It has a slightly downward feel, but it’s not desirable to short yet.
From the Pound/Yen perspective, it still looks like it could rise further, with the nearby higharound 143.25being surpassed, and the +2σ aroundaround 143.70. Watch for a selling on strength; if it falls, the lower targets arearound 143.00 and the 10 EMA around142.80.
The Bollinger Bands on the 60-minute chart and moving averages are turning up, so even if it declines, a move around the high 142sis likely to show a solid movement.
On the 4-hour chart, it’s in a high-level consolidation. It has a slightly downward feel, but it’s not desirable to short yet.
From the Pound/Yen perspective, it still looks like it could rise further, with the nearby higharound 143.25being surpassed, and the +2σ aroundaround 143.70. Watch for a selling on strength; if it falls, the lower targets arearound 143.00 and the 10 EMA around142.80.
The Bollinger Bands on the 60-minute chart and moving averages are turning up, so even if it declines, a move around the high 142sis likely to show a solid movement.
☆☆☆ Scatore Futa Target Points ☆☆☆
【Sell-into-Rally Points】
1, around 143.25
2, around 143.40 to 143.43
3, around 143.70
【Pivot Line】※A level that traders pay attention to or a key turning point.
Around 143.00
【Pivot Line】※A level that traders pay attention to or a key turning point.
Around 143.00
【Buy on Dips Points】
1, around 143.00
2, around 143.90 to 143.88
3, around 143.80
※When trading, please do so at your own risk and with caution!
※When trading, please do so at your own risk and with caution!
■Today's Outlook
Today, I still think dip-buying is the favored strategy. However, since it’s Friday, momentum may weaken and we could see a gradual rise or a sideways movement?!
There are U.S. jobs data indicators later in the night, so will there be movement?
※The Pound/Yen is sensitive to fundamentals, so when it moves sharply, be careful not to fight the flow!!
Well then everyone, let's be cautious today as well. Thank you!!
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Scatore Futa's Daily Morning Market Bloghttp://fxfighter-fuuta.link/
Scatore Futa's Technical Study HPhttp://fx-fuuta.com/
Scatore Futa's Twitter@fuuta_fx_trader
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