Tokyo Session Update: GBPUSD & USDJPY

Tokyo Session Update: GBPUSD & USDJPY

April 21, 2017 | Author: Analytical Trader | No comments | Categories: Market Analysis | Tags: gbpusd • usdjpy • vsa trading

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

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

USD/JPY Hourly

USD/JPY Hourly

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.

Hope you found this market update useful. Feel free to try our VSA system demo for Metatrader 4, and subscribe to our blog to receive new market updates.

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