SHORT on Triangle break-out GBPJPY

7 thg 3, 2017

As the real brexit is imminent. And market conditions are prompting for risk aversion to be kicked in. We entered short on GBPJPY @140.57, position is inching toward first target.

An opening gap on monday signals an upcoming shake.
1- Brexit in next few days
2- FED rate hike bets on more than 50%.
3- North Korea missile adventure ignite the situation further
4- Trump again orders traveling ban, but led by SC this time.
5- French Election
6- 3 central banks (FED, Boj, BOE) to issue policies next week after RBA.

all above events may trigger the risk-aversion. Yen will gain against basket of currencies in such conditions. Pairing an anti-risk currency with weaker OR vulnerable to risk is best to trade.

Thanks for excellent Technicals to give us a green light.

Trade with Care.....