GBP crosses/JPY crosses/Trade Ideas

GBP/JPY: Shorts reduced; look for better levels to increase

I still really like this pair lower, maybe back to 136 even, but with Yen bearish momentum still quite strong I’m simply not confident that I’m picking the right entry levels. I’ve reduced my small short position by 1/2 near 142.50, leaving me with a tiny position. I think we may see some choppy range trading for a few sessions so I will try and be patient.

  1. Sean,

    USD/JPY seems weak this morning if the level on the cable holds at 1.5865, it might be a new opportunity to sell one unit on GBP/JPY ?

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