FXWW News/GBP crosses/JPY crosses/Trade Ideas

AUD/JPY breakdown weakens the case for ‘bottom-picking’ the AUD

More stops have just gone off below 97.00 in USD/JPY and I think this will be a common theme in coming weeks as we gradually head back towards 92.50. The crosses are all looking weak, with cable and AUD/USD also falling today although EUR/USD managed to hold steady.

I’m leaving the AUD/USD alone for now, and will concentrate on USD/JPY and cable. The latter looks a bit toppy under the weight of GBP/JPY sales but I’m hoping that once this is absorbed, it can start making fresh highs.

  1. Hi Sean,
    When almost all the analysts are bearish on cable and some of them even targeting 1.4230, it is amazing to see your courage to target 1.75/2.10.

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