FX:GBPJPY British Pound/Japanese Yen
We believe position trades long term short on this pair will fare well however short term swing traders may want to look at this for moves down to 158.10 and the topside cap at 160.10 for the bias. The average daily range low for today will come in at about 157.85 and pressure is likely to keep up if we remain below the DPV at 159.16. Look to scale into this trade for the best risk to reward outcome.
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