GBP Weakness vs JPY Strength

OANDA:GBPNZD   British Pound / New Zealand Dollar
Playing GBP weakness against the strength of the Japanese Yen for a quick turn around. 60 pip stop loss with 120 pip take profit.

This morning in the London session we have seen the British Pound continue its downtrend across all pairs:

GBPUSD -0.11%
GBPNZD -0.14%
GBPCAD -0.04%
GBPAUD -0.02%
GBPCHF -0.19%
GBPJPY -0.31%
EURGBP +0.16%

The strength in the Japanese Yen is even clearer with significant strength coming in early this morning on all its pairs:

USDJPY -0.21%
EURJPY -0.16%
GBPJPY -0.33%
AUDJPY -0.30%
CHFJPY -0.12%
NZDJPY -0.18%
CADJPY -0.29%

I am sticking to a strict 2:1 Risk-Reward for this trade however the position could be managed lower with some care and attention.

Good luck!
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