GBPJPY is been bullish recently. Due to weak cash flow in safe havens. According to last CoT report. JPY and Gold are no strong. Probably its time for them to revert back to the mean values.
In that case we can take advantage of GBP strength.
FX:GBPJPY
We could see that Gold has created memory point at 1745. Pay attention to the range at the moment and watch out how selling volumes develop.
OANDA:XAUUSD
Buying pressure is back on GBPJPY on shorter term basis. However, keeping the monthly rollovers in mind. I'm not expecting too much push upside.
This move is good for Friday speculation.
FX:GBPJPY
Market took a 100 pip rally today through Asian and London sessions. However, we could see that price have reached its maximum threshold. If you refer to CoT data, Almost 10K non commercial shorts were been added.
It doesn't make any sense for the price to move up without reverting back to the MEAN AREA.
FX:GBPJPY
As per previous CoT report, Non commercials adding aggressive short positions. This could be potential selling from institutional order flow reports.
From technical point of view, we could see that buyers are struggling to make highs.
I'll be waiting for buyers to burn out before going shorts.
You can Fibs or MA's for additional layer of confirmation
FX:GBPJPY
Price is channelling up towards low volume area, and this doesn't mean price have to revert back immediately, wait for sold exhaustion or reversal signs to take short.
FX:AUDUSD
A short term rally is anticipated on US30 as we can see price is trying to reach the previous major memory area.
To take longs we need to see the absence of selling pressure.
OANDA:US30USD
