Have you been trading any of the JPY crosses lately?
I have, on the short side. Most of them are trading in a bearish condition.
There is always the fear of a possible BOJ intervention, but let me tell you something, I think the USDJPY is a few hundred pips away from “the intervention levels” around 76.09, so we’ve got some room left.
Back to the GBPJPY, here is the daily chart:
So for now, I’ll be looking for short opportunities on the GBPJPY.
Do you trade this cross? Let me know.