450 more pips to go on the GBPJPY

Written by Raul Lopez on . Posted in Trades & Analysis

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.

Cheers,
Raul

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Raul Lopez

I've been trading the forex market for more than 11 years. All my trades are based on price action. Check out my Forex Coaching program, I can help you develop a system that helps you trade consistently.
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