Why GBPJPY & EURJPY Should Be On Your Trading Watch-list
Tues 7th November 2023 : Daily Forex Price Action
Today we’re looking at Trading Setups in:
- GBPJPY (Primary Focus Pair)
- EURJPY (Covered In Video)
- EURCHF (Covered In Video)
FREE Discord Server: Real-Time Alerts, Pending Orders, Live positions & Trade Updates
Our Interest (pending order)/Open Interest (live position)
GBPJPY remains atop of the live forex strength vs weakness tables, GBP as S1 and JPY has W1.
You can see yesterday’s analysis here.
GBPJPY has been our primary focus pair for this week, and price has recently started to pull back.
On the daily (d1) chart we can see the price has closed bullish as we target the key resistance of 186.50.
Moving down to the intraday charts such as the hourly (H1) price is trading back at the 50MA.
If price could close above this hourly 50MA it could offer us a long opportunity.
This hourly moving average is supported by a trend line which forms from the lows on 30th October.
FREE Discord Server: Real-Time Alerts, Pending Orders, Live positions & Trade Updates
