GBP/JPY Today's Target Point (December 20)
■GBP/JPY, Daily Target Points
In Tokyo time, it seems likely to be supported around 142.12 near the 25-day line and attempt a rebound…
Around 142.35 to 142.40If you break above this,toward around 142.48,around 148.60, initially watch for selling on any rebound around these levels, and if the rebound is stronginto the upper 142s, on a daily chart there is a downward-facing 10EMA ataround 143.12where you would want to beware of selling on rallies.
If it were to break below the 25-day line,around 141.98,around 141.80 to 141.70,around 141.50, if selling is strong, be wary of a drop to about -1σ aroundaround 141.12.
■GBP/JPY, 4-Hour Target Points
On the 4-hour chart, the Bollinger Bands are sloping downward, the cloud has opened and the 90-day line has also been broken.
With weak rebounds and located near the middle of the channel,around 142.00to the upper channel limit143.15, there is a high likelihood of forming a descending triangle.I am watching this possibility.
If you break above around142.35to142.45,142.65,142.95,143.15and with the 90-day line and the upper channel line at, that could be a near-term upside target.
If it starts to fall, the downside isaround 142.00to be watched; breaking this could lead to a drop toward around141.61where a rebound might occur for now.
On the 4-hour chart, the Bollinger Bands are sloping downward, the cloud has opened and the 90-day line has also been broken.
With weak rebounds and located near the middle of the channel,around 142.00to the upper channel limit143.15, there is a high likelihood of forming a descending triangle.I am watching this possibility.
If you break above around142.35to142.45,142.65,142.95,143.15and with the 90-day line and the upper channel line at, that could be a near-term upside target.
If it starts to fall, the downside isaround 142.00to be watched; breaking this could lead to a drop toward around141.61where a rebound might occur for now.
☆☆☆ Scatotre Fuuta’s Target Points ☆☆☆
【Sell on Retracements Points】
1, around 142.35 to 142.45
2, around 142.65
3, around 142.95
【Pivot Line】※A line that is sometimes watched as a turning point.
around 142.69
【Pivot Line】※A line that is sometimes watched as a turning point.
around 142.69
【Buy on Dips Points】
1, from around 142.15 to 142.10
2, around 142.00
3, around 141.70 to 141.60
※When trading, please do so at your own risk and take care!
※When trading, please do so at your own risk and take care!
■Today’s Outlook
Today I think there will be an attempt to rebound for a moment.
However, on the weekly chart there has been a retreat from +2σ and a long bearish candle forming a piercing pattern, so next week selling may be dominant, which could dampen today’s rebound if anticipated.
GBP/JPY may move, but since Friday is the weekend and post-election events are wrapping up, it might be wise not to force moves.
If you enter, it may be safest to trim profits gradually.
※GBP/JPY is highly influenced by fundamentals, so when it moves strongly, be careful not to go against the flow!
Well then, everyone, it’s Friday of the week-end! Let’s stay cautious and do our best today as well!!
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Scatotre Fuuta’s Daily Morning Market Bloghttp://fxfighter-fuuta.link/
Scatotre Fuuta’s Technical Study HPhttp://fx-fuuta.com/
Scatotre Fuuta’s Twitter@fuuta_fx_trader
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