Long GBPJPY - Swing trade idea.
I have bought GBPJPY at 151.35 as I feel this move lower is now exhausted. No interest in getting too carried away during this risk off mood, however I feel the run has gone a long way and if we had to see the dollar start to fall, that would cause GBPUSD to rally pulling up GBPJPY along with it. On the other hand, if the USD stays bid, this will cause USDJPY buying thus putting pressure on JPY strength and hopefully cause USDJPY to make a decent retracement higher again taking GBPJPY along for the ride.
Long GBPJPY - 151.35
TP - 156.00
SL - 150.70
I have bought GBPJPY at 151.35 as I feel this move lower is now exhausted. No interest in getting too carried away during this risk off mood, however I feel the run has gone a long way and if we had to see the dollar start to fall, that would cause GBPUSD to rally pulling up GBPJPY along with it. On the other hand, if the USD stays bid, this will cause USDJPY buying thus putting pressure on JPY strength and hopefully cause USDJPY to make a decent retracement higher again taking GBPJPY along for the ride.
Long GBPJPY - 151.35
TP - 156.00
SL - 150.70
Comment:
Trade running in 30 pips of profit - Moved SL to entry!
Comment:
stopped out at flat!