FX専業トレーダー猫のポンド円トレード解説0415 Translation: Full-time FX trader cat's GBPJPY trade analysis 0415

The GBP/JPY is remaining range-bound, isn’t it? Thanks to that, the daily chart has turned out like this.

Momentum has faded and it’s starting to squeeze. The middle band and moving averages are both trending higher, so the rate is bullish, but before any rise it’s not unusual to target the middle band or -1 standard deviation first, and

on the weekly chart

it hesitates at the -1 standard deviation, which is a downward resistance line, so a return to a downtrend is possible, and it may first aim for a higher moving average before doing so.

Looking at the monthly chart, after all this drop is only this much,

there is also a possibility it could form a swing back and forth (a whipsaw).

The 4-hour chart is like this

Because the European and U.S. markets were closed, the N-Method squeeze criteria are satisfied, so if you are going to ride the expansion direction or place a counter-trend trade, first allow an expansion to occur.

The N-Method is here