GBPJPY analysis - the beauty of fibs...

chart h4 - at market close

Look at the accuracy of the fib retracement levels. The price obeyed the 161.8% level and then went up and stopped at 50% level.

Below is my analysis of the possible move for next week...

An evening star formation on the weekly chart indicates that the downwards move is not over yet. As long as the price remains below 138.45, I will keep looking for sell entries with a possible target of 126.60.

On the other side, a break above 142.00 will invalidate my view.

Good luck and happy trading....


Post a Comment

You are welcome to post comments. However, please do not use Anonymous as your ID. At least, put in your initials for easy reference in further conversations.