GBP/JPY Analysis - 1st Week Of April - Jamesusd

Hello everyone!

This is what i'm anticipating GBP/JPY does for the first week of April. Please feel free to leave any feedback or questions!


- Analysis -
Price is looking bullish on the weekly and daily TFs, breaking new highs etc.
As for a long term perspective I am thinking price is going to reach 155 sometime this week or month.
What I am looking for during this trading week is for price to retrace to either 152.7 or 152.5 at the beginning,
then continue the bullish trend. The way the daily TF looks, it tells me that it should retrace to 152.5 before going up.
I am going to wait for price to retrace and form a minor support on the 4hr. Then drop down to LTFs and start looking for buys.
Once some bullish candles start closing in the direction of the trend, I will wait for an appropriate candle to form then take the entry.

- Key Levels -
153.2 - Current high
152.7 - Strong Reaction level
152.5 - Buying pressure
152.3 - Buying pressure
155 - Bullish weekly target

Disclaimer - This is my analysis, use it as inspiration.

- Jamesusd

Commentaire:

Looks like it was bearish, cant call out one side of the market... always got to be looking at both sides