GBPJPY LONG 500PIPSVery good second opportunity to long GBP and short JPY. GBP is the weekest currency and JPY is the strongest I believe that ratio will turn aroud in next weeks or 3-4 months. After July FED rate cut that I believe is imminent we will see new much higher ATH for stocks = risk on. Economic cycle will be extended thanks to rate cuts... On the other hand BOE might lower interest rates as well which would be bad for sterling BUT according to economists sterling's fair value is about +4% higher from current levels. JPY on the other hand is too expensive for Japans heavily export oriented economy so BOJ might intervene or investors might take a breath from shiny safe heaven. Technicals: price have reached demand zone and strong resistance from apri 2017. RSI oversold with divergence. MACD divergence as well WEEKLY MACD turning positive on higher timeframe. 3:1 RRR Target 38.2% fib retracement.
GOOD LUCK
JXY
Analysing JXY (Visual Demo)Mic is messed up, only used visual demo
A short bear market, however do see the possibility of retracing steps back up to 93 region based on tip-off and observations on one of the indicators.
Trade chart at your own risk.
Want to know what indicator I'm using? Send me a polite PM and i'll show you where to find it, plus additional tip if you are a pro (non-pro will not have access to this tip)... no I do not sell anything, all free.
Bearish AB=CD spotted on JXYthe index is on long-term uptrend but a bearish correction is expected for couple of weeks with abcd pattern , overbought on stochastic , and reaching 1.27 on fibo levels , the bearish move wil continue till the 0.681 fibo of the uptrend ( japenese yen pairs are mostly for sell in these couple of weeks especially against usd )