GBPJPY - Is the correction going to 138.41 ?!
Updated
Ichimoku current status:
Weekly - the cloud is red and quite thick and therefore a pretty strong resistance.
Monthly - cloud is also red plus Tenkan / Kijun = short signal is still active.
For these reasons, a correction of the bullish movement since Jan to March would be possible to correct 62%.
If the price develops according to the chart, then we could expect a bearish trend until about mid-July.
Condition: no break and close on a weekly basis over 148.
I think in May this view is definitely confirmed or canceled.
Weekly - the cloud is red and quite thick and therefore a pretty strong resistance.
Monthly - cloud is also red plus Tenkan / Kijun = short signal is still active.
For these reasons, a correction of the bullish movement since Jan to March would be possible to correct 62%.
If the price develops according to the chart, then we could expect a bearish trend until about mid-July.
Condition: no break and close on a weekly basis over 148.
I think in May this view is definitely confirmed or canceled.
Note
More upNote
Next week a bit deeper as this week - that means 142.687 is important... if that level stays unbroken, then TP 144.865Note
In comparison to my main chart above, GBPJPY has taken a different path, nevertheless, it has turned on my hot target at 138.41. If he soon reaches this price mark (138.41), then I look for long but only temporarily, because also GBPJPY will form a lower low next month, but then you can stay long for several weeks with the first goal 144.84 - 145.14 (remember this TP)Note
At 141.46 resistance and with temporary long I meant something like this...
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