GBP crosses/JPY crosses

Are we about to buck the ‘risk-off-Monday’ trend

Deutsche Bank have been tracking this phenomenon in recent times, with something 16 of the last 17 Monday’s turning out to be risk-off events. With rumours of possible BOJ easing measures picking up steam, could this be the Monday to buck the trend?

I’m caught short GBP/JPY from lower down and am a bit unsure what to do, never a good trait! I’m reading that there are stops above 127.90 so I guess I’ll join in and become another sacrificial lamb!

  1. Morning Sean! From what I gathered – EUR/USD bids ahead of 3000/offers 3080 and a 3050 1 bln option expiry for the NY cut. As there are no data releases today, I’ll look to play the range – either buying near 3000 or selling 3100. I think we’ll see a push into 3080 first.

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