Watching for GBPUSD to settle above 1.2400. Next the pair will test 1.2688 level near term and then break above that toward 1.2900 - 1.3000 Sorry guys for being away for 4 months as I was working on my new book release "Trade Forex with Confidence". Thanks for your patience and support. http://amzn.to/2nKBrXT
Despite the pair’s rebound from the descending trend line support last Friday, the subsequent failure at 113.78 earlier this week followed by a retreat to 112.70 today has set falling tops formation. A daily close below 112.61 (last Friday’s low) would mark falling bottom and open doors for a test of 111.90 – 111.61 levels.
USD/JPY the most favorite trade now a days globally accumulating targets 107.50. Technical : This pair is little influence with technical but support and resistance matters in this pair in terms of technical .apart from it we are looking for channel as I have nicely mapped over daily but for short term trader I have marked it with 4 hr chart with recent channel ...
USDJPY after a big bull rally sees to be looking faded. it has been trading in bullish channel. also it has retraced to 110% fibo level and also a strong resistance is seen at 111.03. traders may go short in USDJPY at slighly higher price or wait for breakout channel downward with a target of 107.79 in near term.