Yen crosses also now approaching their respective channel res.
Aud/Jpy - 61.8 fib channel res and previous highs at 82.35 area, stoch & rsi in overbought area.
Looking for a short when price action confirms.
Eur/Jpy - Channel res approaching at 125.00. Indicators are still bullish, but watching stoch for possible turn. Aud/Jpy has led this move thus I will take my lead from that.
Gbp/Jpy - Looking much stronger than the other two, with 4 hrly cross and close above the 100/90 ema bands a bullish sign. Will watch the channel res BROKEN , with a break targetting the 50 fib and 220 lwma. Indicators are also supporting the bullish outlook , but I will be watching for a failure at the ma with indicators turning over for a short trade.
1 comment:
Good reading man, loud and clear!!
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