Rationale to trading plan (Long GBPJPY one) :
1. There was a news release that claim UK and EU have struck a Brexit Divorce deal which will be confirmed next Monday. UK officials denied this however but further reports after that "reconfirm" about the divorce deal
2. Equities Market have been up, signal potential Risk-On (hence Yen will be less demanded)
*The Short GBPJPY Plan is a technical rationale. The idea is price is going back to Demand level around 147.00 (which potentially a good price to buy Sterling against Yen)
Risk to the trading plan :
1. News that confirms that there was no brexit deal have been secured, which will shift market's mood from positive into uncertain
2. Escalated North Korea missile test issue which will potentially shift market's mood from greedy into fearful (Safe Haven - Yen Demand)
1. There was a news release that claim UK and EU have struck a Brexit Divorce deal which will be confirmed next Monday. UK officials denied this however but further reports after that "reconfirm" about the divorce deal
2. Equities Market have been up, signal potential Risk-On (hence Yen will be less demanded)
*The Short GBPJPY Plan is a technical rationale. The idea is price is going back to Demand level around 147.00 (which potentially a good price to buy Sterling against Yen)
Risk to the trading plan :
1. News that confirms that there was no brexit deal have been secured, which will shift market's mood from positive into uncertain
2. Escalated North Korea missile test issue which will potentially shift market's mood from greedy into fearful (Safe Haven - Yen Demand)
Trade active:
Long GBPJPY. Stop 148.794.
Risk : 0.3%
Risk : 0.3%