GJ Rising Wedge Break!

3 Jun 2024

Here I have GBP/JPY on the 1 HR chart!

Price has been following what looks to be a Rising Resistance and Rising Support forming a RISING WEDGE!!

Early this morning on disappointment of GBP strength, we seen price BREAK BEARISH strongly on the pattern!!

I believe price is now retracing to the Rising Support of the Wedge to test as a VALID BREAK for confirmation that price will CONTINUE DOWN!!

*Currently waiting on the Re-Test of the Rising Support Break! Upon VALIDITY, I will be looking to SELL!

3 Jun 2024

Nota

Price is on its way back up to Retest!

I'm looking for price to come into the ( 200.14 - 200.24 ) and upon appearance of rejection Validating the Break, I will take Sell Positions!

3 Jun 2024

Nota

BRC Retail Sales Monitor came in .4% Actual v 1.2% Forecast!

Even though the .4% beats last months -4.4%, the .8% miss on the Forecast is helping GJ on its way to Retest the Break of Pattern!

3 Jun 2024

Nota

JPY Monetary Base y/y came in!
.9% Actual v 2.2% Forecast!!

1.3% Miss on Forecast!

4 Jun 2024

Dagangan aktif

Sell Entry @ 200.34
SL @ 200.5

4 Jun 2024

Nota

Price pushed up to test the Break of Pattern!

Already we are seeing rejection from Higher Prices!

4 Jun 2024

Nota

tradingview.com/news/reuters.com,2024:newsml_L1N3I201G:0-dollar-wallows-at-multi-month-lows-as-fed-cut-bets-grow/