GBP/JPY
1) Technical:
-Price @ 150 has been tested multiple times.
-Possible Right shoulder formation.
-Look to short at the peak.
Target: $147.50
Physiological: $145.00
2) Fundamental:
This week we have manufacturing PMI on Thursday 3/1. The Forecast is 55.1 (down) from 55.3. If the number clocks in lower we will have a push lower.
However, If we clock in over 55.3 then the pound will continue to rise and retest 151.00.
FOLLOW
Instagram: WallstreetJon
-Price @ 150 has been tested multiple times.
-Possible Right shoulder formation.
-Look to short at the peak.
Target: $147.50
Physiological: $145.00
2) Fundamental:
This week we have manufacturing PMI on Thursday 3/1. The Forecast is 55.1 (down) from 55.3. If the number clocks in lower we will have a push lower.
However, If we clock in over 55.3 then the pound will continue to rise and retest 151.00.
FOLLOW
Instagram: WallstreetJon
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