GBPJPY TRADE IDEA .. A LITTLE PULLBACK OF 280 PIPS!
TRADE IDEAS
SO JPY IS STRONG BUT THIS TIME THERE IS A 3 MONTHS SUPPORT THAT WE NEED TO BREAK, AND THE RSI IS OVERSOLD, SO WHY NOT PRICE WOULD PULLBACK TO THE 0.618 FIB RETRACEMENT .. SMALL RISK. IF THE SUPPORT IS BROKEN WE SHOULD EXPECT FOR THE PRICE TO CAMEBACK AGAIN TO THE SUPPORT LINE ( THAT JUST BECAME RESISTANCE) AND SELL.
SO JPY IS STRONG BUT THIS TIME THERE IS A 3 MONTHS SUPPORT THAT WE NEED TO BREAK, AND THE RSI IS OVERSOLD, SO WHY NOT PRICE WOULD PULLBACK TO THE 0.618 FIB RETRACEMENT .. SMALL RISK. IF THE SUPPORT IS BROKEN WE SHOULD EXPECT FOR THE PRICE TO CAMEBACK AGAIN TO THE SUPPORT LINE ( THAT JUST BECAME RESISTANCE) AND SELL.