FXWW News/Trade Ideas

GBP/JPY trade update

I’m still long of this pair and feel very comfortable being long GBP across the board.

I’ve adjusted my short-term targets and will look to book profits if we get any exhaustive spikes towards 172.00/20.

I’m keeping my stop-loss well below the market but if we start trading regularly below 169.80 then I may re-assess the situation.

  1. your pound call was excellent sean. congrats. although id be a little cautious shorting the usdcad at this level.
    how do you see this divergence between the S&P and yen pairs unfolding over the coming days? one of them has to play catch up right? or will it be a more permanent divergence?..sell in asia and buy in us…
    most yen pairs have shown individual characteristics over the past few weeks suggesting that yen weakness has not been present. do u think we could see another leg up in all yen pairs? that would be quite a trade then for ur gbpjpy long wudnit?:D

  2. Hey Rahul, the big indicator for me is metals, I think those mkts are telling us something. Commodity ccys like CAD, AUD and CHF are likely to strengthen and if CHF goes up then JPY will most likely follow imho, even if it lags a bit.

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