Short GBPJPY
Updated
Short GBPJPY @ 163.30
TP: 157.88
SL: Will keep an eye and most probably cut this trade above 164.60 area.
We saw a dovish hike from BOE which cause a sell off in GBPXXX currency which was all reversed on the back of the US NFP print (which doesn't really make sense). I would think this GBP rally will be short lived and I expect sterling to trade weaker in the coming weeks.
Some technical resistance at 163.30 fibbo lvl. Support comes in at 162 area ... below that there is 160.40 area and then finally our TP at 157.88.
This trade offers a great R/R ratio.
Good luck ;)
TP: 157.88
SL: Will keep an eye and most probably cut this trade above 164.60 area.
We saw a dovish hike from BOE which cause a sell off in GBPXXX currency which was all reversed on the back of the US NFP print (which doesn't really make sense). I would think this GBP rally will be short lived and I expect sterling to trade weaker in the coming weeks.
Some technical resistance at 163.30 fibbo lvl. Support comes in at 162 area ... below that there is 160.40 area and then finally our TP at 157.88.
This trade offers a great R/R ratio.
Good luck ;)
Note
Trade running at 130 pips in profit.Note
Closed half on the US CPI print at +130 pips
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