GBPJPY (8Aug-12Aug) Outlook
GBPJPY is still in BearZone and Bears are not out of the wood yet :) . Rate cut on 04Aug flavored it further breaking down trend line.
To regain bull bias, it has to overcome Range Zone (136.6xx to 141.4xx) which will take a week or two.
If 132.9xx lvl hold, it might bounce up back to Ranging Zone.
My Strategy, remain sideline until it breaks up 135.6xx (Long) or it visits 130.0xx (long)
DYDD though
To regain bull bias, it has to overcome Range Zone (136.6xx to 141.4xx) which will take a week or two.
If 132.9xx lvl hold, it might bounce up back to Ranging Zone.
My Strategy, remain sideline until it breaks up 135.6xx (Long) or it visits 130.0xx (long)
DYDD though
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