GBPJPY heading into a squeeze?

Good evening ladies and gentlemen

As the curtains come down on the first day in the trading week, I hope you can look back on it in a positive light. Losses are all part of the game and all part of progression. Always look back to check your analysis was correct and if it was then it was just market behaviour. The key is to make sure that your winners cover the losses and more!

So the GBPJPY ended the week behaving correctly according to out technical analysis. Price reversed back in the direction of the major trend at the conservative Fib Breather level which was all taking place ont he 4 hour chart.

Price came down to retest the S line, failed to break through and is now heading back to the trend line and is now at the figure. Could we see price now being forced into a squeeze and forced further back down in the direction of the trend or could the market decide other wise. All we have to do is wait and see and in turn let it dictate what action we should take. Of course check the indicators. RSI is below the midline but hovering close to the cross over.




I will leave you with this thought by Benjamin Frankin, "An investment in knowledge pays the best interest!"

Till tomorrow

Abundance is your Birth Right

Zaheer Anwari