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GBPJPY and USDJPY


jbtrader

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Posted

The trend has been and still is clearly in favour of a weaker Yen.

Not suprising given the Monetary policy in Japan.

I can see these pairs continuing to move higher.

They seem to be consolidating at the moment.

 

Any thoughts?

Posted

UJ>>

 

I bought UJ at 14325 in the US session today. Fed minutes tomorrow so hoping for a lift up to 125.50 area.Options expiry this week so the big number seems the target. Japan put in a very weak gdp number this week and with their neighbours trying to drop their currency I think related currencies will drop too.

 

GJ>>

 

Keeps testing 19520. UK still has inflation - JUST. So if all goes well we may make a dash for 197.50 this week.

194.20 would be a good entry if we see it tomorrow.

 

James1st

Posted

Taking the opportunity today to add to my GBPJPY long.

 

Might look to add to the EURGBP short later today as well.

 

Just following 2 well established trends.

Posted

 I've been watching the Eur/GBP.  Daily chart looks like it is going to maintain the downward trend.  Although intraday on the 4 hour and hourly it was looking a bit more bullish.  There is definitely an opportunity to make some intra day gains here.

  • 7 months later...
Posted

Useful to hear.  Fits with my analysis (other thread).  I have taken a Long yesterday but we could get another leg down so being careful with close stops.

Posted

I stay away from the GBPJPY but depending on where the monthly chart for the USDJPY ends we could see a further drop.

 

The monthly EURJPY hit the sell price and as I have never traded on monthly charts before, I decided to test it out on my demo account...........its currently sat at 260 pips profit :smileyindifferent:

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