Don't let R:R Fool You
** Highly opinionated and speculative **
With weaker data from China and event of the week @ Doha with OPEC ; flight to risk off havens such as JPY might be in order Monday.
Charted GBPJPY-0.19% as the cloud over Brexit is still talking point for GBP and if this entry is hit and prices drop - theres no knowing where this will stop until quite possibly further interest rate cuts into negative territory by the BOJ - Intervention not likely with G10 summit upcoming. Japanese Nikkei yields not too flash and shares dropping ; influx of CNY-0.68% capital and likely further increase in JPY.
Speculative fundamentals aside - plenty of structural resistance at 155.2xx level as well as descending trendline, MA 200 and daily pivot levels. Likely to make a dash up to 155.5xx where it is also just below the completion of a possible Gartley OR Crab .
But first, it'll have to break 50 MA & 154.8xx
Brainchild of TV chat after light talk with @Ata-Turkoglu.
Key levels to watch 154.8xx ; 155.2xx ; 155.6xx
-Trade your plan and within your Limits-
With weaker data from China and event of the week @ Doha with OPEC ; flight to risk off havens such as JPY might be in order Monday.
Charted GBPJPY-0.19% as the cloud over Brexit is still talking point for GBP and if this entry is hit and prices drop - theres no knowing where this will stop until quite possibly further interest rate cuts into negative territory by the BOJ - Intervention not likely with G10 summit upcoming. Japanese Nikkei yields not too flash and shares dropping ; influx of CNY-0.68% capital and likely further increase in JPY.
Speculative fundamentals aside - plenty of structural resistance at 155.2xx level as well as descending trendline, MA 200 and daily pivot levels. Likely to make a dash up to 155.5xx where it is also just below the completion of a possible Gartley OR Crab .
But first, it'll have to break 50 MA & 154.8xx
Brainchild of TV chat after light talk with @Ata-Turkoglu.
Key levels to watch 154.8xx ; 155.2xx ; 155.6xx
-Trade your plan and within your Limits-
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