Nickgray99

Nickgray99

Firstly, I believe GJ has room to go back up towards the 181.000 level, going off the basis of the previous 4hr candlestick which represents a reversal in price direction to the upside. However, I am of the belief this may be GJ last push to the upside before heading back down to test the 200 MA level on the daily timeframe. Why? Well, if we are to check the...

Nickgray99

We have now seen GBPJPY pass through the resistance I had marked out via the yellow channel lines at 181.700 price level and can now seen a resistance level at around 182.200 - 182.300. The 4hour MA100 demonstrates a key resistance level for GBPJPY at 182.345 which could, if broken act as a catalyst to the next leg up to the 184.00 price level which is July's...

Nickgray99

Please note: there are significant news releases today at 1:30 PM consisting of the Core PPI and the initial jobless claims. My personal analysis is potential for GBP/JPY (GJ) to return briefly back to around the 181.700 - 182.000 price level acting as a third resistance touchpoint in the channel, to then seeing a sell off back down to 179.200 to 179.000 price...