Hey traders,
Let’s check out these interesting setups lined up for Tuesday.
1. GBP/JPY
GBP/JPY has reached a key resistance zone, which also aligns with price touching the 200 ma.
Though on the daily time frame price is still bullish and there is a possibility that price may break the key resistance zone and head to the NPRZ, we could also expect the bears to come in and pull price back to the 1st PSL.
If you are thinking taking advantage and joining the sellers all through the Asian session, you have to be aware that there is a high impact news scheduled for 9.45 am Tuesday, and this could greatly influence price structure. So my advice is don’t fall in love with this setup if it starts selling during the Asian session.
I may join the sellers during the Asian session if I see a good opening, but I will ensure I exit the trade before news tomorrow,
2. CHF/JPY
A possible triple tops in view on the CHF/JPY.
The key resistance zone is looking good and the 200 ma is strategically located (it can be used to place your SL). If you decide to join the sellers there is no fear of high impact news till pm on Thursday, except you want to play safe and exit the trade during AUD CPI news scheduled for 1.30 am on Wednesday.
What say you?
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