Quick EUR JPY GBP JPY update
The previoud setup was not triggered, as the price action moved into weekly
RES ZONE1 and broke through, now targeting
RES ZONE2.
ON EUR JPY
Break above
15990-16110 will indicate upside with targets
16440-16460,
however reversal in
15990-16110 will indicate a pullback towards previous levels at
15540-15580.
The 15990-16110 has to be triggered first to decide further direction for the trade.
ON GBP JPY
WOW, did you guys see the 1 hour-300-pip candles yesterday? Not a pretty sight, when you get on the wrong side of the trade.
IF 201.20-201.40 holds, expect further sharp gains, up towards
RES ZONE2, which is
203.25-204.86 this week.
Break below
201.20-201.40 area will indicate further downside capped with
199.20-199.40 area.
trading strategy is to trade breakouts of the indicated zones.