USD/TRY has moved sharply down this week falling to the support line since the end of November.
Trading GBP/JPY on the news
BUY 138.40; TP1 138.75; TP2 139.45; SL 138.25
SELL 137.95; TP 137.05; SL 138.15
Britain will release some economic data today. The forecast is positive. It’s possible to try to exploit this idea trading GBP/JPY.
The pair made a big spike down last week. Yesterday the pair found support and formed a daily candlestick with a long lower wick. This is a sign that GBP/JPY is trying to find a bottom. Advance above MA on H1 at 138.40 will allow it to test at least the Fibo level at 138.75. On the other hand, a slide below 138.00 (50-period MA on H4) if the British data disappoints will allow selling with a target at 137.00.
The last "Pennant" pattern has been broken, so bulls found resistance at 1.2915. Nevertheless, the market is likely going to move on, so we should...
USD/CHF remains weak across the board and stays strong with a bearish consolidation below the 200 SMA at H1 chart…
There's no any reversal pattern so far, so the market is likely going to test the nearest resistance area in the short term...