Mar 302023

Bears tried to dominate during the Asian session but bulls have maintained their ground at 163.00.

Dailies are clear of a bullish trend with all arrows pointing up – higher highs, higher lows. Main bias is to go long but with price having gone this far without a correction, who has the nerve to buy into it? We are in fact in bear’s territory.

My immediate bias is still to short around 163.60 to 163.70 with a main bias of going long around the support levels I marked. I have tried shorting twice today only to have been stopped out. I’ll wait for the next compression and look for new entry points.

GBPJPY, 23-03-30, London Session by traderh on

Trader H

TraderH is a foreign currencies trader and a former Certified Securities Representative in the Philippine equities market. All posts herein are personal views and are not endorsed by any organization whatsoever. It is important that you practice due diligence in your trade plans. This website and its authors will not be held responsible nor liable to any of the reader's losses.

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