GBP/JPY Today's Target Point (December 26)
Today the U.S. markets will be open, but most overseas markets such as Germany, France, the United Kingdom, Australia, and Hong Kong are closed, so today’s market may also be quiet!?
I wrote a blog assuming there was some movement, m(__)m
■Pound-Yen, Daily Target Points
In the daily chart below, one candlestick is missing!
The daily chart on Tuesday showed a judgment-like cross and a balance between sellers and buyers; after a long decline since the election, it has recovered after forming a bottom around the 141 yen range.
Today it started above the -1σ and rose a little, so it seems like it might test a rebound today.
Around 141.85 yenIf you break above142.00 yen vicinity, that could become the target, and around 142 yen there may be some resistance. If it climbs into the 142 yen range, there is also the 25-day moving average at142.27 or near142.40, where you should be cautious of selling on the way back.
Since there has been a long decline, if it rebounds, you should try to enter in the direction of the trend and avoid forcing short positions.
Today the lower bound is around141.50 yento the upper bound of142.00 yen,142.45 yenas the focus.
■Pound-Yen, 4-Hour Target Points
In the 4-hour chart, the price is in a low-range consolidation and the Bollinger Band is slightly downward.
It seems it may rebound from around -2σ and cross above the 10EMA, so a move to test the rebound is expected.
The next target is near the middle line at141.97; if it moves normally, the middle line should be breached, but there is also a round-number, so as a precaution, watch for selling on the way back. If it crosses the middle line, the next target near the 25-day line142.19, and the next near the +1σ and the baseline142.50; today the upper reference is around here.
If it cannot cross the middle line and starts to fall,141.50 yen, 141.35 yen, 141.20 yen, and the lower bound near -2σ at141.08may become support levels.
☆☆☆ Scatre Fuuta’s Target Points ☆☆☆
【Sell-on-rebound Points】
1、From 141.97 to around 142.00
2、Around 142.19
3、Around 142.50
【Pivot Line】※A line that is often watched and becomes a point of significance.
Around 141.46
【Pivot Line】※A line that is often watched and becomes a point of significance.
Around 141.46
【Buy-the-dip Points】
1、Around 141.70
2、Around 141.50
3、Around 141.35
※When trading, please trade at your own risk and be very careful!
※When trading, please trade at your own risk and be very careful!
■Today’s Perspective
Today the U.S. markets will be open, but most overseas markets such as Germany, France, the United Kingdom, Australia, and Hong Kong are closed, so after the Tokyo session starts there may be some movement, but since European traders are on holiday, a range-bound market is also possible.
There may be a rebound, so the trend may be biased toward buying on dips, but today it remains uncertain how far it can rebound, whether it can reach the 142 yen range.
If the upside around 142 yen is heavy,141.50to142.00range should be watched.
Year-end is approaching, so there can be sudden moves; don’t push yourself too hard!
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※Pound-Yen is influenced easily by fundamentals, so when it moves rapidly, be careful not to fight the trend!!
Well then everyone, let's be careful and do our best today as well!!
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Scatre Fuuta’s Morning Market Bloghttp://fxfighter-fuuta.link/
Scatre Fuuta’s Technical Study HPhttp://fx-fuuta.com/
Scatre Fuuta’s Twitter@fuuta_fx_trader
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