The GBPJPY cross produced a negative shift signal within a neutral digestive posture. For now it is noise however trading below the 15469 Inflection Pivot will have the MKT on the defensive down to 15240.
15240 is the breaking point that if taken out will confirm today's negative signal putting the 15035 and 14825 support targets in play.
A held trade above 15469 puts the negative signal in question up to 15618. Be patient. This is the high point for any upside head fake. A violation of 15618 confirms a positive shift targeting 15936. Expect no follow through.
JS
This post supports JS Services Strategy Based Trading approach. For more information please contact me at info@jsservices.com. You can also visit http://www.jsservices.com/.The Inflection Pivot levels are available as a chart overlay on the following platforms; Ninja trader, Strategy Runner and eSignal. Sign up for a Complimentary Trial.
