GBP/JPY broke below short-term key-support at 136.26 indicating that red wave ii is in motion. This call for a dip to at least 135.37 and likely even lower to 135.18 before red wave 2 finally comes to its end and a new impulsive rally can take hold.
The former support now acts as resistance at 136.26 for the dip to 135.37 and maybe even lower.
R3: 136.50
R2: 136.26
R1: 136.12
Pivot: 136.05
S1: 135.88
S2: 135.75
S3: 135.37
Trading recommendation:
Our stop+revers was hit at 136.20 for a nice little 65 pip profit. We have placed our new stop at 136.70 and we will take 50% profit at 135.45.
The material has been provided by InstaForex Company - www.instaforex.com
Last week, the EUR/USD pair ended with a slight 0.10% decline but posted a weekly gain of 0.51%, amid reduced risk appetite amid specul...
The EUR/USD currency pair traded very sluggishly for most of the day on Wednesday. This is not particularly surprising, as there were n...
Bitcoin remains below $100,000, which is a concerning signal for traders. The recent price update to $93,000 and the lackluster buying activ...
Analysis of Transactions and Trading Tips for the Japanese Yen The price test at 154.66 coincided with the MACD indicator just beginning to...
Gold is trading around $4,117 with a strong upward movement after finding good support around 6/8 Murray located at $4,062. Gold reboun...
Bitcoin has fallen below $100,000, which is a rather alarming signal for traders. Ethereum is also trading around $3,100, preparing to test ...
The EUR/USD currency pair continued to trade in an upward trend on Friday with low volatility. Volatility has been decreasing over the ...
Download NOW!
No comments:
Post a Comment