Pound–yen today’s target point (December 11)
■Pound/Yen, Daily Target Points
Reaching the target suggests a retracement could dominate for a while, with the upper side around today’s highnear 143.10 yenand the lower side around +1σ around142.40 yen, and around142.30 yenwhere the 10 EMA sits, giving movement likely between these levels.
In Tokyo time, it seems likely to hold around the mid-142 yen range and test a rebound, but upper prices may face resistance around the upper-142s.
Ifaround 142.37 yenthe rebound weakens and breaks lower, further downside is possible,around 142.00 yen,around 141.85 yenaround 141.50 yenperhaps!?
■Pound/Yen, 4-hour Target Points
In the 4-hour chart, the Bollinger Band is flat, with support near142.46 yen. However, given that today’s rapid drop stemmed from a divergence, caution is required.
Wait and decide after the current 4-hour candle closes; if the lower wick lengthens, look for a rebound; if there is no lower wick, anticipate further selling pressure.
With the middle line and the 10 EMA presentfrom 142.82 to around 142.90, this could be a key juncture; if you break above this,into the 143s,toward around 143.10 to 143.15,toward around 143.35, a move higher could ensue.
If you cannot break above the middle line and 10 EMA around142.82 to 142.90, then expect movement in the 142.80 to mid/early 142s.
Ifaround 142.30the rebound is weak, be careful of further downside,around 142.04 to 142.00,around 141.80,around 141.50.
In the 4-hour chart, the Bollinger Band is flat, with support near142.46 yen. However, given that today’s rapid drop stemmed from a divergence, caution is required.
Wait and decide after the current 4-hour candle closes; if the lower wick lengthens, look for a rebound; if there is no lower wick, anticipate further selling pressure.
With the middle line and the 10 EMA presentfrom 142.82 to around 142.90, this could be a key juncture; if you break above this,into the 143s,toward around 143.10 to 143.15,toward around 143.35, a move higher could ensue.
If you cannot break above the middle line and 10 EMA around142.82 to 142.90, then expect movement in the 142.80 to mid/early 142s.
Ifaround 142.30the rebound is weak, be careful of further downside,around 142.04 to 142.00,around 141.80,around 141.50.
☆☆☆ Scatere Futa Target Points ☆☆☆
【Retracement Selling Points】
1, around 142.83 to 142.90
2, around 143.00 to 143.04
3, around 143.10 to 143.15
【Pivot Line】※A line that is often watched and can become a focal point at key levels.
around 143.24
【Pivot Line】※A line that is often watched and can become a focal point at key levels.
around 143.24
【Pullback Buying Points】
1, around 142.60
2, around 142.50
3, around 142.35 to 142.30
※When trading, please trade at your own risk and be careful!
※When trading, please trade at your own risk and be careful!
■Today’s Outlook
Having reached the target around 143.70 and then falling sharply from the morning, retracement selling is likely dominant for now. Be cautious around movements from around 143.00 to mid-142s.
If the price makes a new low, be careful! I plan to watch the 4-hour and 60-minute charts and target nearby levels.
※Pound/Yen is sensitive to fundamentals, so when it moves rapidly, avoid going against the flow!
Well then everyone, let’s be cautious and do our best today as well!!
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Scatere Fuuta’s Daily Market Bloghttp://fxfighter-fuuta.link/
Scatere Fuuta’s Technical Study HPhttp://fx-fuuta.com/
Scatere Fuuta’s Twitter@fuuta_fx_trader
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