InfinitySL
Short

GBP/JPY can move quick. I'm betting lower

FX:GBPJPY   British Pound / Japanese Yen
59 1 3
Here's a weekly look at where GBP/JPY             has reversed in the past. I like this level. A stop should be used (If it moves past 145, the trade is all wrong). G/J can move quick in either direction. Keep position size small.

On a more fundamental note: What is with these two countries...competitive devaluation?
So far so bad on this call, but still probably in the sell zone. Again, gotta keep position size small because this pair moves fast when it moves. At this point if you short, it could trade higher to 150, but if it breaks lower your target could be as low as 120. Still like the risk/reward, but my confidence in this trade isn't high...
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