Hello traders,
Let’s hit the charts
1. GBP/JPY
GBP/JPY closed with a strong bearish move last week, although we can see a pull-back on the 4 hour time frame, I am still very much convinced that it’s possible we get to see a slight pull-back before price continues its downward move.
If we do get a bearish breakout of support level 137.181, price will most likely drop over 130 pips to the next possible support level (135.648)
2. EUR/JPY
Support level 125.883 on the EUR/JPY held well all through last week
If we do get a breakout below support level 125.883, price next possible target would be 125.303
We should also be ready if price decides to bounce back to resistance level 126.648, as price may still range for a while.
3. GBP/CHF
On the GBP/CHF, the bears may be temporarily out of steam, and price maybe making its way back to resistance level 1.19031
I will be waiting to see how price reacts “if” it gets to resistance level 1.19031. If I do get a bearish confirmation signal, I will be selling, having support level 1.17246 as my next target.
If we do get a bullish breakout of price at resistance level 1.19031, our next target will most likely be 1.19765
What say you?
ATTENTION:
For those who are interested in joining our FREE trading group on Telegram, where trade ideas are discussed, which may assist your trading career while being infected by positive vibes
Smash the link: https://t.me/joinchat/FN30PxlwXbk2BcuTDdH5yg
If you are also new to forex trading or you are looking for a reliable broker with:
- Competitive spreads which is a big plus if you are a scalper
- Fast withdrawals or
- A platform where you can trade currencies, stocks, commodities, and indices trading
Search no further as Mtrading meets most trader’s requirements, and I am personally satisfied with them.
