GBPJPY on Daily Ichimoku has been under the Cloud.

However because it was sill “inside” the weekly Cloud, I was a Bull on this pair.

But now, the candle seems to be a bit below the cloud. (see below)

2015-12-18_17-05-09-GJ1

If the candle drops from this cloud… that would be a big deal – Bearish on both Daily and Weekly Ichimoku.

Now let’s look at Regular Daily chart.

2015-12-18_17-06-34-GJ3

Currently testing the support & MS2.  If this breaks, the next level of support will be 180.50.

Now, if it also breaks 180.50.  Then the next level of support is 175.00 !!!!!!!!!!!!!!!!!!!!!!!!!

 

Wow!  Big deal.  Let’s observe what’s going to happen.

 

Just FYI, if you want to short GBPJPY, may I suggest to consider selling EURJPY…

Or… even suggest to forget about Yen cross pairs.   This is USD move.  So may be easier to focus on USD pairs, such as USDJPY or GBPUSD, EURUSD.

 

 

YJ Baik – Forex.Today @ Tokyo

 

 

2 thoughts on “The Beast standing on a cliff ! (Dec 18)”

  1. Maryna says:

    Hi YJ! I hope GBPJPY will fall to my target I discussed with you this week, but only time will tell. Thanks for all your inputs.

    1. YJ Baik - Forex.Today says:

      Yup Maryna. I am still hoping the current Support level holds. 🙂 We will see…

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