Tokyo Session Update: GBPUSD & USDJPY

In today’s Tokyo’s session I found 2 potential opportunities for the next session, on 2 of the major pairs: GBP/USD, and USD/JPY.

 

GBP/USD 30 MINUTES

 

Background: Weak

Short-term Trend: Down

Support: 1.2767

Resistance: 1.2904

 

GBPUSD 30 Minutes

GBPUSD 30 Minutes

  1. At this point, we can see distribution (many supply signals on sideways movement)
  2. Based on this weakness behind, wait for a short BREAKOUT alert from Alert System.

The next news important news (Retail Sales m/m) is in roughly 8 hours, so, be sure to look for a breakout afterward. Depending on the news result, there could be a reversal near the 1.27 support – let’s wait and see what VSA shows at that area.

 

USD/JPY 1 HOUR

 

Background: Neutral

Short-term Trend: Down

Support: 109.213

 

USD/JPY Hourly

USD/JPY Hourly

  1. Prices broke out the 109.213 resistance with high volume in today’s US session. There is latent supply shown by VSA supply signals

 

Although there was a breakout, the background is still neutral due to the recent supply signals. Still, if no more supply shows at these prices, I am still bullish, and looking for a long position, on a low volume down bar, above 109.213. The Alert System is also likely to alert if prices get nearer.

 

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