Art-of-FX

GBPJPY Due to request i have posted this chart

FX:GBPJPY   British Pound/Japanese Yen
106 2 3
I think that the person you know that made lots of pips off this pair since January probably got into a simple trend line break . If you look at the chart there is a very clear sign of a huge bearish move. The price had been building on a steady trend and then once this TL broke in January, the exact time you said he started making those pips it had a long way to fall to equalize. At this point on the daily I would call it bullish , but there is no clear trade to me so I will remain sidelined on the pair until i see something of value.
Yes I see what he did, darn it. Thanks man.
+1 Reply
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