GBPJPY
The GBPJPY opened the year 2014 at 175 and dropped to 165 in February. The trading range for the 4 quarters in 2014 are as follows:
Jan-March - 165-175
April-June - 170-174
July-Sept - 170-180 – Strong bull
Oct-Date - 170-185? – Bullish continuation
There is the issue of the snap election in Japan and the dragon is on a strong bullish run since October. What do I see? 190 appears very close, while the strong resistance at 200 is not far off. The best strategy between now and the end of 2014 is to closely monitor 1500 pips in either direction from 185 as follows:
For Bullish Run
The long-term picture from the monthly chart is that the bullish run since 120 in June 2012 (over 6500 pips so far) is still intact.
The above levels I called in November 2014 are still intact. Compare your current monthly and weekly charts with my charts in November 2014.
See the weekly and monthly charts below.
The GBPJPY opened the year 2014 at 175 and dropped to 165 in February. The trading range for the 4 quarters in 2014 are as follows:
Jan-March - 165-175
April-June - 170-174
July-Sept - 170-180 – Strong bull
Oct-Date - 170-185? – Bullish continuation
There is the issue of the snap election in Japan and the dragon is on a strong bullish run since October. What do I see? 190 appears very close, while the strong resistance at 200 is not far off. The best strategy between now and the end of 2014 is to closely monitor 1500 pips in either direction from 185 as follows:
For Bullish Run
- 185-190
- 190-195
- 195-200
For Bearish Reversal
- 185-180
- 180-175
- 175-170
The long-term picture from the monthly chart is that the bullish run since 120 in June 2012 (over 6500 pips so far) is still intact.
The above levels I called in November 2014 are still intact. Compare your current monthly and weekly charts with my charts in November 2014.
See the weekly and monthly charts below.
Attached Images (click to enlarge)
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