Long GJ
Currently looking at a long on GJ.
Had a massive sell off from the upward trend, looking for the best possible point of entry into a long.
Fundamentally the Yen is still bearish and Japan's manufacturing and service sectors fall into contraction, since Japan is an exporter country these are fundamentally negative for the Yen. UK elections bring some optimism for the pound in terms of planned policy changes by the new government, but this is all smoke and mirrors until they actually implement a course of action.
Confluences:
61.8% fibo
Key level
D 100EMA
Alignment with the Nikkei at a possible buy zone
Catch you later traders ▲
Had a massive sell off from the upward trend, looking for the best possible point of entry into a long.
Fundamentally the Yen is still bearish and Japan's manufacturing and service sectors fall into contraction, since Japan is an exporter country these are fundamentally negative for the Yen. UK elections bring some optimism for the pound in terms of planned policy changes by the new government, but this is all smoke and mirrors until they actually implement a course of action.
Confluences:
61.8% fibo
Key level
D 100EMA
Alignment with the Nikkei at a possible buy zone
Catch you later traders ▲
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