To make a trade setup during these times it is not easy, because many things must be considered carefully.
So about the strength of cable in the next 6 months I am the opinion that it will remain weak and confused.
About the JPY the BOJ will not enter in the position to ease more money at this moment, for they need to " smell" the markets, else their stimulus will bring no great effect what they are expected for. Therefore I prefer to short GBPJPY for the next couples of weeks.
My first short trade setup for GBPJPY for to day is labeled on the chart at around the price of : 135.350
S/l @ 136.550
This trade setup is valid for intraday only but I prolong it until the lunch time of Asia session by tomorrow on June 28 2016; in case the sell limit at 135.350 will not be hit, I will cancel it then.
As we see that at H1 TF the prices were closed below my drawn down channel on the upper grey color line thereof. I just measured a very small price movement and picked out the fibs 0.5@ around 135.350 as a short entry position. Due to the small piece of downward movement of a the last big move down, I therefore decide to make an intraday short for it.
Read our blogs at:
Read our ebooks for free at: