G G G G G GBP (Vs) JPY
Good day everyone. I have been up doing analysis and review on my favorite pair thus far. Price is now at 156.10 possibly on its way down to 155.50 or even 155. Maintaining bullish bias, I don't see the retracement pulling back too far but I'd be lying if I said I haven't taken advantage of the countertrend as well. Based off last Month's close and the last two Weekly candles I would say price can continue onward to make a new HH above 158 or even skyrocket toward 160 in due time. We do see wicks on the Weekly with similar closes around 156.975- 157. Drop down to the Daily price found resistance at about 157.324 showing minor exhaustion and a double top formation with a bearish push to the region of 155.50-.475. However, price closed 156 with major exhaustion on the Daily close. The 4H is making LH and LLs as well as the 1H. One thing I love about GJ is the range in pips on both ends. I will continue to adjust with dynamism. Have a grand trading week everyone. Thank you
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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.