Well, gotta admit the CitiFX technical guys seem to be doing OK with their GBP/JPY position. But they sure like living dangerously, coming within an ace of being stopped out overnight. Their stop is at 157.75, with a high of 157.50 having been traded.
Their target is 146.75. Jolly nice risk/reward if infact it pans out. They could certainly do with the current risk aversion persisting.
GBP/JPY having started out around 156.70 in Europe this morning has been as low as 154.48 this morning, currently at 154.75.
