GBPJPY: Maybe overbought?
GBPJPY
Intraday - We look to Sell at 167.50 (stop at 168.20)
Buying pressure from 164.31 resulted in prices rejecting the dip. Previous resistance level of 166.32 broken. The current move higher is expected to continue. We are trading at overbought extremes. A lower correction is expected. We look to sell rallies. Although the anticipated move lower is corrective, it does offer ample risk/reward today.
Our profit targets will be 165.50 and 162.00
Resistance: 168.40 / 171.90 / 176.35
Support: 165.40 / 162.00 / 160.50
Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Signal Centre’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Signal Centre.
Intraday - We look to Sell at 167.50 (stop at 168.20)
Buying pressure from 164.31 resulted in prices rejecting the dip. Previous resistance level of 166.32 broken. The current move higher is expected to continue. We are trading at overbought extremes. A lower correction is expected. We look to sell rallies. Although the anticipated move lower is corrective, it does offer ample risk/reward today.
Our profit targets will be 165.50 and 162.00
Resistance: 168.40 / 171.90 / 176.35
Support: 165.40 / 162.00 / 160.50
Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Signal Centre’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Signal Centre.
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