GBPJPY 1:3 Risk Reward

FX:GBPJPY   British Pound / Japanese Yen
GBP Long Bias
- LogicStrategy score shift of +14 points towards strength
- Core Retail Sales m/m show better than expected changes in retail sales in the given month compared to the previous month. The index calculation does not include auto sales and fuel, which tend to be very volatile. It is an indicator of consumers spending that allows estimating the inflation level. The growth of the index can be seen as positive for the pound sterling .

JPY Short Bias
- LogicStrategy score shift of -8 points
- Nikkei Manufacturing PMI worse than expected which reflects the business environment in the Japanese industrial sector. The indicator is calculated monthly based on surveys of manufacturing company manager about new orders, sales, inventory, suppliers and the industry outlook.The indicator growth can have a positive effect on yen quotes.
Comment: Trade closed due to huge GBP weakness shift and JPY strength


Nice analysis!
+1 Reply
marcusraiyat Eren_Jaeger_Trader