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sufiansaid

Trading Plan GBPJPY - Brexit No Deal Aftermath Trade

Short
British Pound / Japanese Yen (FX:GBPJPY)  
sufiansaid Updated   
FX:GBPJPY   British Pound / Japanese Yen
Support and Resistance Fundamental Analysis GBPJPY brexit sterling yen riskoff sentiment brunei malaysia
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supportandresistance fundamental gbpjpy brexit sterling yen riskoff sentiment brunei malaysia
The rationale for this trade is pretty straightforward : The headline of no deal was made yesterday and more political uncertainty surrounding the United Kingdom. No monetary policy issues is in focus right now to help the sterling at the moment as well (today). Equities market in Asian session is a bit in a selloff (Risk Off Tone) gives slight safe haven inflow (Yen Demand).

Risk for the trade (yes there's always risk. I have no crystal ball as others as well.. so stupid saying "it will this.. it will that.. it will go up.. it will go down.. very bad mindset to have as a trader")

1. New development on the brexit deal
2. Yen sell-off from a Risk-ON (whatever cause it might be)
Trade closed: target reached:
Nice.
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