Hope you had a good weekend. I’m watching the JPY pairs which I’ve been quite active in trading lately. I’m expecting the trend to continue in them, with some interest in the GBPJPY, USDJPY and EURJPY.
Below is some commentary on the GBPJPY:
After profiting heavily from our buy trade setup last week on this pair, the GBPJPY has been in a corrective price action pullback today. Earlier today, the pair formed two intra-day pin bar setups on the 1hr chart in a support zone between 188.30/60.
I’m still bullish on this pair, so will look for more PA around this current support zone to potentially get long. If it folds, then I’ll look to the second support and buy zone, which is around 187 to 187.45.
Anyone else looking at this pair and trading it?