JPY has been really weak for the past few weeks, creating nice opportunities for traders to benefit from shorting this currency. If we take a look at the current situation that we have on Pound-Yen, we can notice that the price is building a top to complete a short-term correctional move of the impulsive leg that took place yesterday.
We are patiently waiting for the price to complete the correctional move before we enter BUY positions and ride the trend. We are eyeing the zone of 162.2 as a possible zone to go long from, and will be setting our initial target at 164.7 current Higher High.
We are patiently waiting for the price to complete the correctional move before we enter BUY positions and ride the trend. We are eyeing the zone of 162.2 as a possible zone to go long from, and will be setting our initial target at 164.7 current Higher High.
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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.