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Hello friends this post is an update to the setup in USDJPY and GBPUSD that we saw in first week of October. In the last post we saw that USDJPY broke the triangle to the upside and as per the triangle height the upside target is at 107.45 levels. Last week after a nice break the pair found resistance near the crucial level spotted by us at 104.16 which is very much in the resistance zone. Today at the time of writing this post the pair is trading at 103.73 and seems like the pullback is over a pair can test 104.32 and may be it will break it also.
The idea is to buy with a stop loss 5 pips below yesterday's low that is 104.80 the target on upside is 107.45
In GBPUSD there is nothing much to say now. I had predicted a move of 735 pips but it gave more and that too the very next day. Anyways it made the bearish outlook for GBPUSD again and look to sell the pair near line with stop on the other side and target the previous low or 1.2050 to play safe.
Please leave your valuable comments on the setup.
Happy Trading to all.
The idea is to buy with a stop loss 5 pips below yesterday's low that is 104.80 the target on upside is 107.45
In GBPUSD there is nothing much to say now. I had predicted a move of 735 pips but it gave more and that too the very next day. Anyways it made the bearish outlook for GBPUSD again and look to sell the pair near line with stop on the other side and target the previous low or 1.2050 to play safe.
Please leave your valuable comments on the setup.
Happy Trading to all.