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
- At this point, we can see distribution (many supply signals on sideways movement)
- 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
- 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.
Leave a Reply