Monthly Archives: June 2018

GBPJPY Approaches Key Inflection Point

The GBPJPY is approaching a key inflection point on the 4-hour time frame. On Sunday, I pointed out last week’s retest of former channel support that extends from the 2017 low.

However, buyers weren’t ready to give in just yet. This week’s bounce from the 147.00 area shows there’s still some stre…

EURJPY remains neutral above 38.2% Fibonacci level

EURJPY has struggled above the 38.2% Fibonacci retracement level of the downleg from 137.50 to 124.60, around 129.50 and below the 130.30 resistance level since Tuesday’s trading session. The sharp buying interest, especially in the previous week, has shifted the near-term bias from negative to…

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