DislikedWell we failed at 148.50 increasing the chance for a bearish correction. 145.30 was breached a number of times today also which is the initial support against the bears. The stoch has settled below 50 also increase the chance for a bearish move. If we don't break 148.50 to cancel the bearish move...look for lower lows {image}Ignored
I reckon it fell into fairly good support - for the moment But, it needs to reclaim 145.8 then over 146.4
Who knows what impact, if any, the BOJ thing has today. However, Cable should by now be at 123, but its been in a rounding bottom for 33 days now so it may yet hold up. It also runs effectively in a flat top .. a bit like a flat topped triangle which is often bullish. My bullish scenario for Cable is - not to 1.23, break up again to 1.27, retest to 1.255 then accelerate to at least 1.31
Also, don't forget the significance of this exact place in 2013. So, it's either fall to wherever day, or begin the climb.