Long EJ & GU

5.43 bst

Anticipating the close of the candle but it looks low risk. I am going long as follows:

Long $20/pip EURJPY at 127.66, SL around 126.85

Long $30/pip GBPUSD at 1.5306, SL 1.5270.

Edit 7.14 bst:

I will be out ferrying my kids for the next 3 hours and will not be able to monitor the markets. Therefore I’ve put in a limit order to take profit at 128.01 in the EJ trade. The round number is also close to the 38 Fibo of the drop from 131.13 – 124.97 so we should at least pause there, and perhaps also turn down.

The similar Fibo in GU is at 1.5325 but here I reckon we’re more likely to see the 50 Fibo at 1.5342. I should be in back in time for the GBP data release and any moves after that

I have left hard stops in at the levels mentioned in my post. Anything can happen on these kind of days!


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