From last idea, LONG TP SL taken out on price dip due to consolidating before BOJ press conference. Going LONG again for the following reasons:
1) CCI/RSI tandem strong signal LONG
2) Hitting off of the 100 and 200 MAs again
3) Revving up for USD data announcements (prepare for volatility)
4) Second attempt at breaking the LT consolidating triangle
5) We may have seen this pattern before on the 26th-27th of March.
6) Double bottom (but not at an actual bottom) - two attempts to turn SHORT failed by the MAs holding.
7) BOJ downgrades 2014 GDP from 1.4 to 1.1.
Alternatively, instead of GBPJPY, look towards AUDJPY? Danske released a report saying they'd like to buy AUD, as GBP is getting overheated/overvalued. Danske revised TP from 173.95 to 174.55.
1) CCI/RSI tandem strong signal LONG
2) Hitting off of the 100 and 200 MAs again
3) Revving up for USD data announcements (prepare for volatility)
4) Second attempt at breaking the LT consolidating triangle
5) We may have seen this pattern before on the 26th-27th of March.
6) Double bottom (but not at an actual bottom) - two attempts to turn SHORT failed by the MAs holding.
7) BOJ downgrades 2014 GDP from 1.4 to 1.1.
Alternatively, instead of GBPJPY, look towards AUDJPY? Danske released a report saying they'd like to buy AUD, as GBP is getting overheated/overvalued. Danske revised TP from 173.95 to 174.55.