USD/JPY

USD/JPY bounced off Kijun-sen 110.70 support line, and it has created a support zone with Senkou Span B 111.08 on daily interval. Nearest resistance is Kumo cloud and (8/8) line at 112.50.

uj1-2Buy signal occured after getting through Tenkan-sen line at 111.05 on H4 interval. Support zone at this point creates todays low at 110.66 and Kijun-sen at 110.53. Selling will be a good idea right after price get through Senkou Span B line, currently at 109.85.

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GBP/USD

It almost touched resistance zone which brings us to ask a question: Is it the end of gains or not? At this moment, we still lokk for an occasion to buy while we’re trading with trend. First support is (7/8) level at 1.4526 where lies Tenkan-sen line on H4 interval. Second one is Kijun-sen at 1.4467. Probable range for future gains is around 1.4648-1.4683 where AB=CD.

gbp-2I’ve asked myself: If both GBP/USD and USD/JPY is going up, isn’t it a great idea to buy GBP/JPY?

Looking on the chart we can spot bulls reaction in Kumo cloud near 160.01 level. It’s problematic, because it is commonly known that pairs in Kumo shouldn’t be traded at all. But on the other hand, price tends to bounce in the clound which brings us 164.85 level as a possible target for gains. Risk to reward ratio is pretty atractive so we really should consider going long on this pair. But watch for the Chikou Span which might be a good prognostic for a possible correction.

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