Last week saw JPY continue to advance adding further weight to the breakdown seen the week before
Price is currently just above resistance turned support at 124.094 and below here we have sloping trendline support the June 17 low (the two intersect, 20th Aug).
Traders not already short EUR / JPY could wait for the aforementioned levels to clear before taking...
We posted on the EURUSD yesterday and how we require a bounce from support.
The GBPUSD is no different and has a very similar structure to it.
We have highlighted the breakout bar that offered an initial long entry that we took with little hesitation as our edge had presented itself at the start of the year. Our bullish edge is defined as follows: