GBPJPY is currently retracing to the 61.8 fib from in its downtrend, i am also a fundamental trader so i will be looking at UK results this morning at 9:30 am to asses whether we will be entering the trade, we will also be looking at the hourly candle close at 10 am, we may miss a few pips doing this but it reduces risk substantially, i believe at the moment it is...
Right, here we see this pair stuck in a range for the last two months or so, manufacturing data to be released on Monday morning for GBP. We will either see this pair break through the box and reach 1.34 or retrace down to 1.31 level.
Either way, take your pick, trade after the news if you wish, however, trade safe.
