[Pending] GBPJPY is Bearish - We look to Sell at 133.20
▪️ The medium term bias remains bearish.
▪️ We have a 78.6% Fibonacci pullback level of 133.21 from 133.55 to 131.94.
▪️ Positive overnight flows lead to an expectation of a firm open this morning.
▪️ Further downside is expected although we prefer to set shorts at our bespoke resistance levels at 133.20, resulting in improved risk/reward.
▪️ Expect trading to remain mixed and volatile.
Stop: 133.50
Target1: 132.00
Target2: 131.50
▪️ The medium term bias remains bearish.
▪️ We have a 78.6% Fibonacci pullback level of 133.21 from 133.55 to 131.94.
▪️ Positive overnight flows lead to an expectation of a firm open this morning.
▪️ Further downside is expected although we prefer to set shorts at our bespoke resistance levels at 133.20, resulting in improved risk/reward.
▪️ Expect trading to remain mixed and volatile.
Stop: 133.50
Target1: 132.00
Target2: 131.50
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.