A new day but a familiar theme as risk-off sentiment returns 7 Feb
Decent sell interest into 1.400 for GBPUSD and rally sellers on USDJPY above 109.60 give GBPJPY the perfect kick lower as yen demand generally prevails.
I've highlighted the 1.4000 offers/res a few times this week and after 1.3995 highs we're now down to 1.3928 with GBPJPY down to 151.70 and USDJPY testing some demand around 109.00
EURJPY, AUSDJPY and CHFJPY all lower as well to name just three pairs.
Great two-way business to be had but I prefer the short side still on all three pairs and will continue to sell rallies and t/p in the dips but won't go long. Pips to be had for dip buyers too though.
For both sides entry level is key and don't get greedy. Trailing stops can help to get more out the move though.
