GBPJPY > 10/8-13/17 Trade Analysis
Timeframe: 1W
Expecting further decline toward 144.45 level, representing 61.8% fib retracement.
Expecting strong support @ 144.45 which could lead to bullish rebound toward 152.82 level, although a solid break and hold above 149.73 level is needed for confirmation that trend reversal is underway or is just a false break in test.
For continuance of bearish trend, a solid break and hold below 144.45 may serve as signal to open path for further decline toward next major support level located at 139.29
* Personal analysis only. Please use your own rules and strategies prior to entering market.
** Forex trading involves HIGH RISK.
Before entering a trade, carefully consider your objectives, financial resources and level of experience.
Timeframe: 1W
Expecting further decline toward 144.45 level, representing 61.8% fib retracement.
Expecting strong support @ 144.45 which could lead to bullish rebound toward 152.82 level, although a solid break and hold above 149.73 level is needed for confirmation that trend reversal is underway or is just a false break in test.
For continuance of bearish trend, a solid break and hold below 144.45 may serve as signal to open path for further decline toward next major support level located at 139.29
* Personal analysis only. Please use your own rules and strategies prior to entering market.
** Forex trading involves HIGH RISK.
Before entering a trade, carefully consider your objectives, financial resources and level of experience.