GBPJPY GBPJPY has been on quite a roller coaster ride since September of this year (2020). We tapped into 133.000 key level but not for long! Price has been ranging in between the weekly and daily levels of 135.750 & 137.605.. Based on the Daily timeframe price is still forming higher lows and respecting the bullish trend line. There are lower highs forming as well on daily and H4 but it looks like the bulls are stepping in.
Price has not been able to break and hold below 135.750 since last week. Looking at the last 2 days of price action I believe we will be heading into 136.500 early in the week 11/9/2020-11/11/2020.
Based on H4 Fibonacci price is holding above the 61.8 retracement level as well as 135.500 key level. A break above 136.500 will confirm the move higher.
-iSnipeWicks
Note
As of market open price is going in our favor.Note
Target Smashed and continued to run
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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.