About Chris Capre

Chris Capre (Head Trader - 2ndSkiesForex) provides weekly forex, stocks, futures, commodities, and CFD trade setups, trade ideas, technical analysis and market commentary. Chris Capre uses his core models of trading price action context, the order flow behind it, and the ichimoku cloud. We have free market commentary published on our site every Sunday or Monday, while we offer daily trade ideas and price action analysis 4x per week for the members of our price action course. To learn more about becoming a member, click here.

GBPJPY - Volatile Trend in Play, Looking to Sell | May 17

GBPJPY – Wide Volatile Range, Looking to Sell (daily chart)
For the month of May, the GBPJPY has been banging around a ~300 pip range between 157.50 and 154.50. Not much has technically changed as the volatile trend has produced a wide range at the moment.

For now my bias is bearish and I’m looking to sell on a rally into the key resistance zone around 162.50 – 164. Downside I’d be looking to target 157.50 and 155. Only a daily close above 165 would negate my bearish bias.

... Keep reading