Stalking GBPJPY for a possible Sell trade. We have a significant SnR zone where the markets have been bouncing around in. Currently we are just about breaking below this area. Would like to see a breakout and a possible pull back into the zone for a push off south. Unemployment rate for Japan coming out today is a key indicator for the trade. UK contruction PMI would also be helpful. We are looking out for bullish sentiment on JPY and/or weak sentiments on GBP.
Excellent trade with good risk to reward. 60 pips to recent low/target area, and now 200 plus pips and running.