GBPJPY Possible Reversal
Updated
Setting up buy limit near 126 (2016 low) and buy stop order few pips above 130 to capture possible short-term correction and bounce between now and mid-August especially with GBP pairs currently moving close to interesting support levels and initial bearish bias in GBPJPY for Aug (already discounted) and bullish bias on Sep 10-year seasonality (despite being bearish overall in the long-run starting October this year thanks to UK's new PM theguardian.com/politics/2019/aug/05/no-deal-brexit-is-boris-johnsons-central-scenario-eu-told).
Weekly:
Weekly:
Trade closed manually
Locking in current gains now despite strong fundamentals and sentiment supporting a bullish GBP (MPs might pass a bill to prevent Boris from enforcing a no-deal Brexit + better than expected GDP) and bearish JPY (https://hhttps://www.bworldonline.com/bank-of-japans-kuroda-says-deepening-negative-rates-is-among-options-nikkei/), because technicals and price action hint a short-term consolidation soon.
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