GBPJPY has bounced about 200pips++ since London session from the key level of 153.00 due to delegation of Ukrainian delegation. Aside from that, the weakening of JPY on Wednesday night has much contributed this pair going bullish as well.
From the H1 perspective, the pair is now trading near to the Fib level 61.8 level where the previously rejected before heading to further losses to 153.00 level. Closing candle above Fib level 61.8 setup would be considered invalidated.
A tight stop loss with sell zone around 154.90-155.20 could be considered with SL at 155.50 for a favourable risk to reward of almost 1:3 to a TP level of 153.10.
Due to recent Russia-Ukraine conflict is getting tension between these two nation, trader and investor may switch their portfolio to safe heaven currency JPY & USD. In addition, all JPY pairs is expected to be very volatile tonight during London-US session session. DOW Futures could be monitor as a precursor for the market movement tonight.
However, if there is unexpected event like cease fire between these 2 region has come to an early discussion later, a temporally risk on environment will boost all XXXJPY pairs. Thus, a tight stoploss is suggested for consideration.
From the H1 perspective, the pair is now trading near to the Fib level 61.8 level where the previously rejected before heading to further losses to 153.00 level. Closing candle above Fib level 61.8 setup would be considered invalidated.
A tight stop loss with sell zone around 154.90-155.20 could be considered with SL at 155.50 for a favourable risk to reward of almost 1:3 to a TP level of 153.10.
Due to recent Russia-Ukraine conflict is getting tension between these two nation, trader and investor may switch their portfolio to safe heaven currency JPY & USD. In addition, all JPY pairs is expected to be very volatile tonight during London-US session session. DOW Futures could be monitor as a precursor for the market movement tonight.
However, if there is unexpected event like cease fire between these 2 region has come to an early discussion later, a temporally risk on environment will boost all XXXJPY pairs. Thus, a tight stoploss is suggested for consideration.