Estimated pips are the pips that would have been gained by trading ideally along the published scenario.
| Currency pair | Total pips | Posts | Average pips |
|---|---|---|---|
| GBP/JPY | +806.0 PIPS | 18 | 44.8 PIPS |
| USD/JPY | +635.0 PIPS | 18 | 35.3 PIPS |
| Total | +1,441.0 PIPS | ||
In the short term it's starting to look like it wants to rise, but on a 1-hour chart (H1) basis it's a sell.On the 4-hour chart (H4) this is a price zone where support is likely, so it's important to clearly decide which timeframe you're targeting.
Still looking to buy.From here the stop-loss level would be far away, so I'll look for confirmation on the lower timeframes and wait for a timing with a good risk-reward.
My bias is basically bearish, but this decline is forming a pullback on the daily chart.On the 4-hour chart (H4), price is reaching a price zone where it should soon find support, but the daily pullback might be a bit lower?
I'm leaning toward buying, but this looks like a tricky spot.Same as yesterday, if the move up fails, it's an environment where I can go short.
It's a close call, but I'm looking to sell.I want to go for it, picturing a move one more leg lower on the 4-hour chart.
On the 15-minute level it's a buy, but the higher timeframe picture is starting to hint at a move lower.It seems best to look for buys as the base case while staying prepared for a switch to selling.
The bias is to sell, but it does feel like the decline is bottoming out.On the 4-hour chart too, price has reached just the right spot to form a pullback and move higher.
The 1-hour chart says sell, while the 4-hour chart may be forming a pullback.Within the range, lows have been turning up, so the flow may well be leaning toward buying.
The bias is still to buy for now, but price has reached a key level and momentum is fading.The 1-hour chart (H1) has also turned into a range, so I don't really feel like buying aggressively.
Price has climbed quite far already, so I think the momentum will start to fade, but I'm still looking to buy.In the short term it's a range, and if price breaks below the current level I'll consider selling too.
