Market is extremely short of GBPJPY. Expect those shorts to be squeezed out again.
I think we have high chance of positive headlines regarding Brexit. UK and EU should somehow find mild solution.
Minimum target is 145.40 where the last minimum is.
This idea may look controversial but I advise going LONG GBPJPY.
Market currently is very short GBPJPY. Liquidity is poor, because it's summer. In these circumstances, positions can be squeezed very easily.
Techincally, on the day graph we BROKE down-trend channel and made new RE-LOW. This combination is often point of reversal.
Potential profit is about 3...
USD long was the main funamental idea in 2014 and 2015.
Nothing changed. FED just paused and US economy showed some weakness. It is just a correction and good moment to go long USD against G7 currencies again.
USDRUB finally should retrace lower because:
- there was big re-high
- 5 wave structure has finished
- oil retraced sharply recently and I suppose oil is gonna go sidehead or higher
- possibly sanctions against Russia will be over soon
Aim: 65-72 area