After todays (3rd April) Tariff decisions from Mr.T the world has gone into a melt down and clearly the whole world has taken a hit.
GBPJPY from a MACD and RSI perspective show signs of exhaustion to the downside with the only catalyst is for bear targeting the previous lows or the continued news scaremongering sellers. With is sitting just near the 0.68 fib and the other MACD and RSI, I can see a long swing target on this that will rally behind 200.
Time will tell on this but I will at least hold position to the 197 and look at locking down profits. Swap rates will help reduce risk off and keeping the SL out the way of turning point and allowing the trade to breath.
GBPJPY from a MACD and RSI perspective show signs of exhaustion to the downside with the only catalyst is for bear targeting the previous lows or the continued news scaremongering sellers. With is sitting just near the 0.68 fib and the other MACD and RSI, I can see a long swing target on this that will rally behind 200.
Time will tell on this but I will at least hold position to the 197 and look at locking down profits. Swap rates will help reduce risk off and keeping the SL out the way of turning point and allowing the trade to breath.
Trade active
0.78 fib has been reached. Deep retracement on the 4 hour and daily. Would like to close the day out above the 0.78 fib as an indication the price has reached the bottom for this swing and can start to gain momentum on buying positions. If the price exceeds this low. The only next clear marker is 188 which means I'll come out of the trade as this may alter long term position.On the positive note, seasonally GBPJPY is typically bullish for 2/3 of the year (we're currently in the cycle) so, even based on current macro news events, GBPJPY will find its footing.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.