Originally updated: 06:20am
Currency Pair: GBP/JPY
Sentiment: Bullish
Market focus:
In today’s trade set up we will be focussing on short term buying opportunities on the GBP/JPY.
Fundamentals:
The pound strengthened yesterday after the BOE minutes came across more hawkish than expected – showing there was concern about inflationary pressures starting to build, this coupled with Japan’s current situation leads us to look for buying opportunities on the GBP/JPY today.
Technicals:
We have a nice confluence zone at 184.40-184.30. This should offer short term support for any pullback.
Stop loss could be placed at 183.75
Take profit target: Open
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