GBP/JPY Today's Target Points (December 25)
Yesterday's GBP/JPY moved fairly well, didn’t it!
Today most overseas markets, including the US, Germany, France, and the UK, are closed, so it seems like a quiet market. But assuming it moves somewhat, I’ve written this blog anyway m(__)m
■GBP/JPY, Daily Target Point
The daily chart looks like a cross-like pattern with selling and buying in balance; the 141 yen level has been holding up, but around 142 yen the upside is heavy, and the 10 EMA has fallen below the middle line, so it feels like we’re waiting for a time to drop.Today most overseas markets, including the US, Germany, France, and the UK, are closed, so it seems like a quiet market. But assuming it moves somewhat, I’ve written this blog anyway m(__)m
■GBP/JPY, Daily Target Point
Today I’ll be mindful of movement around the 141 yen range, with the upper bound near the previous high141.70 to 141.85, and the lower bound near the previous low141.13 around.
GBP/JPY may move, but since it’s Christmas, the likelihood of breaking this line is low, so I think it will trade in a range.
The total swing from the lower to the upper bound is about 70 pips, so about 35 pips for half the move.
The lower zone isaround 141.15 to around 141.50, and the upper zone isfrom 141.50 to around 141.80–85, so I’d like to keep an eye on movement within these ranges.
■GBP/JPY, Four-Hour Target Point
On the 4-hour chart, a price range is holding and the Bollinger Bands are sloping downward, with a tendency for selling rallies to dominate.
It’s rebounding from -2σ but forming a bearish candle, so rebounds are weak; with overseas markets closed, activity should be subdued, so even if it moves, it will likely stay withinaround 141.10 and between the 10 EMA and the 200-day moving average ataround 141.70, i.e., a sideways range.
On the 4-hour chart, a price range is holding and the Bollinger Bands are sloping downward, with a tendency for selling rallies to dominate.
It’s rebounding from -2σ but forming a bearish candle, so rebounds are weak; with overseas markets closed, activity should be subdued, so even if it moves, it will likely stay withinaround 141.10 and between the 10 EMA and the 200-day moving average ataround 141.70, i.e., a sideways range.
☆☆☆ ScatIter Fuuta's Target Points ☆☆☆
【Sell on Retrace Points】
1, around 141.40
2, around 141.55
3, around 141.75
【Pivot Line】※A line that market participants pay attention to can become a turning point.
around 141.60
【Pivot Line】※A line that market participants pay attention to can become a turning point.
around 141.60
【Buy on Dips Points】
1, around 141.30
2, around 141.20
3, around 141.13 to 141.10
※When trading, please exercise personal responsibility and proceed with caution!
※When trading, please exercise personal responsibility and proceed with caution!
■Today’s Perspective
Today most overseas markets are closed, so I expect a narrow sideways range.
Yesterday moved somewhat, but today is Christmas, so some FX brokers may be operating with reduced hours, which will likely reduce movement.
Please check with your FX broker about shortened trading hours!
Today, forget trading and enjoy Christmas calmly!!
※GBP/JPY is sensitive to fundamental factors, so when it moves strongly, beware of going against the flow!
Well then everyone, thank you for today as well!!
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ScatIter Fuuta’s Daily Market Bloghttp://fxfighter-fuuta.link/
ScatIter Fuuta’s Technical Study HPhttp://fx-fuuta.com/
ScatIter Fuuta’s Twitter@fuuta_fx_trader
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