GBP/JPY GBP/JPY
Buy
For now, it's wait and see.Price is near a key level on the daily chart, and given the flow on the 1-hour and 4-hour charts, I can't get involved right now.
For now, it's wait and see.Price is near a key level on the daily chart, and given the flow on the 1-hour and 4-hour charts, I can't get involved right now.
Price moved up another leg from yesterday, but it's back in a range now.From here, the key point is whether the range high from up until yesterday will act as support.
It's a tricky ranging market, but the lows are firming up and it feels like things could turn into an upward move.If price comes down to around C, the range low, it becomes easier to get involved, but I think there's also a chance it starts rising from around B. In that case, I'll have to weigh that against how far it might hold up if it drops again.
The situation is similar to yesterday.Price is basically moving within the range between A and C, and I'm looking to buy within the range.However, selling pressure comes in around Line A. This is also the same as yesterday.
A slightly tricky situation. The 1-hour chart (H1) is ranging and leans toward selling, if anything, but the current flow is turning up (making higher lows), so my bias is bullish.On the 15-minute chart (M15), I see it as a range from A to B, so it's a question of buying from the bottom or buying after a break to the upside.
My bias is to sell, but it's not a spot where I can sell right now.The lower timeframes are bullish, and the daily chart could also start rising from around here, so I'd like to watch how price moves a bit longer.
My bias is to sell, but price has already dropped into a good price zone.It may have already reached the target of this decline, so if you sell, you might need trade management such as exiting quickly on any downside stalling.
Pretty much the same as yesterday.That said, price has been gradually turning up, and it's starting to look like a channel line can be drawn.Given this flow, a break to the upside looks fairly likely.
Price has broken through a key level on the daily chart and is rising.There's no major resistance ahead from here, so I can picture a move up to the key level on the weekly chart.
Price has gotten quite close to a key level on the daily chart.I think there's a good chance of one more leg up, but it seems wise to go in while keeping in mind that it could start losing momentum around here and move lower.