The corrective pullback channel that the JPY crosses have been working through is just about at an end. And now I’m just looking for some solid technical justification to prove that intuition isn’t horribly wrong.
What do I see?
- Longish lower wicks on 0300-0500 1H denoting bearish exhaustion
- (At least temporary) floor beneath price at fibonacci retracement levels, dynamic support (e.g. GBP/JPY at 153-153.25)
Not enough. So I’ll sit on my hands until what amounts to an arbitrary directional bias is something more. Then I’ll be back with the details.
