Trading Outlook – GBP/JPY

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Originally Updated: 06:57am

Currency Pair: GBP/JPY

Sentiment: Bearish

Market focus:

In today’s trade set up we will be focussing on short term selling opportunities on the GBP/JPY.


After a very disappointing GDP number from Japan the markets are now potentially facing a scenario where members of the Government start to lose faith in the famed ‘abenomics’ programme, which is designed to get the recovery back on track. This could make the election a big risk event for the markets and create uncertainty which could trigger at least some limited safe haven flows which of course leads to the purchase of JPY. The GBP is suffering from some negative sentiment after last weeks inflation report and this combination of things could give us a short term opportunity to profit.


We have a nice confluence zone at 182.60-182.65. This should offer short term resistance for any pullback.

Stop loss could be placed at 183.35

Take profit target: 181.70

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Source:: Trading Outlook – GBP/JPY

About the Author
Jarratt Davis is the world’s ranked #2 (2008-2013) Forex Trader by Barclays FX Hedge Index, following years of mastering his art as a self employed trader Jarratt has now entered the field of education and delivers the most robust Forex education package on the market. Jarratt’s mentorship is one of the only programs on the market that is conducted by a verified professional trader. Forex Alchemy readers can get the FREE mini course where Jarratt gives away some of his secrets to success by Clicking Here... [space height="20"] [social type="facebook"][/social] [social type="twitter"][/social] [social type="google-plus"][/social] [social type="youtube"][/social]

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