GBP/JPY – 2 scenarios

Pro Act

GBP/JPY – 2 scenarios

By Pro Act Traders — Author

Note: Core PPI and PPI were negative Today!

Forex Strategy is Bearish: We are currently @ 191.60 in a channel in a range. Scenario #2: We are looking for a slight pullback and then a continuation of a 5^th wave to the ATR target @ 189.75 area, with the overall target the Day chart bottom @ 189.36. Scenario #2: this is a B wave for a bounce to start a movement up to the 194.81 area. Watch the USDX for direction. The average daily true range (ATR) for the pair currently is 191 pips per day and it’s 90-day average is 208 pips per day.

Posted to Introduction to Forex Targe… on Jan 14, 2025 — 8:01 AM

Check out what my VIP members get

Recent free content from Pro Act Traders

USD/JPY – Bears taking control — 1/09/25
CHF/JPY – Big channel underway — 1/08/25
GBP/USD – to the top of the box — 1/07/25
GBP/AUD – Bear run next — 1/06/25
CHF/JPY – in position to do a down run — 1/02/25

You can also use Ctrl+Enter to post

Comments ({[comments.length]})

Sort By:

Loading Comments

No comments. Break the ice and be the first!

Error loading comments Click here to retry

No comments found matching this filter

{[comment.author.username]} {[comment.author.username]} — Marketfy Staff — Maven — Member

{[comment.date_posted|date_format]} ● {[comment.date_posted|date_ago]} ● Edited ● Edit Comment ● Delete Comment

Want to add a comment? Take me to the new comment box!

By jennifer santiago — 3 years ago

I feel I picked the right trading company.

By rakeshnarwal — 4 years ago

See All Reviews →

Pro Act