GBP/JPY Trading plan( FOMC + BOJ Policy Rate on Friday)
With FOMC coming up later tonight and BOJ monetary policy statement
on the early hours of Friday, it is going to be a blockbuster week for
GBP/JPY and other Yen pairs as well. To be honest, I would recommend
traders to take this week off. However, for those still interested in trading,
I am sharing my trading plan.
📌Right now, GBP/JPY looks like it may rise further if it is able to break the
183.50 level.
📌If price drops during or after the major news events towards 179.50, I would
try a buy trade with small lot with entry@179.50, SL: 178.80 and TP at 183.
📌If price spikes to 186 or higher during the major news events, I would prefer
selling.
on the early hours of Friday, it is going to be a blockbuster week for
GBP/JPY and other Yen pairs as well. To be honest, I would recommend
traders to take this week off. However, for those still interested in trading,
I am sharing my trading plan.
📌Right now, GBP/JPY looks like it may rise further if it is able to break the
183.50 level.
📌If price drops during or after the major news events towards 179.50, I would
try a buy trade with small lot with entry@179.50, SL: 178.80 and TP at 183.
📌If price spikes to 186 or higher during the major news events, I would prefer
selling.
Comment:
Market moving in a confined range, we will probably see big moves after FOMC