Yesterday I anticipated a bearish candle and lo and behold here we have a
bearish engulfing candle that saw a low of 140.163 before closing slightly
higher at 140.494. I also commented yesterday that I expected the pull back to
hit 139.000 at worst, and this is also where I decided to place my stop.
If fortune is in my favour, the 140.494 close will be another higher low and we will see further bullish activity, the bears have not made their mark on the charts and therefore not convinced me yet. All charts are still firmly in bullish territory but I look forward to the close of the next candle for more detail.
On a close of 140.494, I am 4,879 pips up from my buy at 135.615 and remain bullish on the GBP/JPY.
bearish engulfing candle that saw a low of 140.163 before closing slightly
higher at 140.494. I also commented yesterday that I expected the pull back to
hit 139.000 at worst, and this is also where I decided to place my stop.
If fortune is in my favour, the 140.494 close will be another higher low and we will see further bullish activity, the bears have not made their mark on the charts and therefore not convinced me yet. All charts are still firmly in bullish territory but I look forward to the close of the next candle for more detail.
On a close of 140.494, I am 4,879 pips up from my buy at 135.615 and remain bullish on the GBP/JPY.
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