Here we have GBPJPY on the 4HR time frame. The end of last week gave us a strong push down and break out of the uptrend this pair was in over the previous week and a half.
We ended the week sitting right on quarter level 147.5 and I do believe that price will make the transition down into the next quarter aiming for 145.0 which just so happens to be smack dab in between the 61% and 71% fib levels.
Once price gets there I naturally see it continuing to the upside aiming for the -27% fib level of 151.3.
Trade at your own risk. I am not qualified to give investment advice.
Happy trading :)
~TraderTrev
We ended the week sitting right on quarter level 147.5 and I do believe that price will make the transition down into the next quarter aiming for 145.0 which just so happens to be smack dab in between the 61% and 71% fib levels.
Once price gets there I naturally see it continuing to the upside aiming for the -27% fib level of 151.3.
Trade at your own risk. I am not qualified to give investment advice.
Happy trading :)
~TraderTrev