Looking to buy the GBP/JPY this morning as the CPI y/y figure is expected to show an increase in inflation which could bring forward the expectation of an interest rate hike from the BoE. On the other side of the trade the JPY is particularly weak at the moment with a poor Prelim GDP reading on Sunday evening and expected intervention from the BoJ in the FX market...
After the weaker than expected dairy auction yesturday and the UK being likely to raise interest rates in the near future I am expecting to see a correction on the recent drop. This does have a fairly large stop loss but it is also relative to the take profit but be aware of your lot size when placing the trade. learn 2 trade like a pro boafx.com
Over the last few weeks we have seen the GBP weaken considerably against most major currencies even though I would consider the GBP to be the second strongest currency at the moment. This gives us opportunities to get the GBP at great prices against some of these currencies and the JPY is my top priority at present. The BoJ are likely to add further stimulus by...
Learn 2 trade fx take the FREE course - boafx.com - We are looking for strong rejection of the support level within the buy zone on the 4 hour chart and signs of decelation on the Daily chart. If this doesn't happen in the buy zone then we will likely see a fall further to 15000.
Learn 2 trade like a pro - boafx.com With the construction PMI expected to be better on the GBP today and the Oil price back in free fall we should see a degree of intraday weakness in the CAD and strength in the GBP hence I will be looking to buy this currency pair