GBP crosses/Trade Ideas

GBP/JPY: Time for first trade of the week

This pair looked terrible this morning when it was down at 126.70 but now that it has rallied 50 pips, I think it might be time to try a short trade around 127.20. I’m only taking a smallish position and we’ll see how it develops from here.

  1. just my opinion, JPY cross have room to rise before month end, one leg attributed to BOJ’s action, one leg to optimism for the Spain request bailout.

  2. I am long EUR/JPY from 10320 and was hoping you were wrong (not that I want you to lose) but any gains for me have been along time coming.

  3. I agree,can see general yen weakness on here.Gd luck with that trade.Am not playing yet,looking to jump in on a USD/JPY long upon good retracement.

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