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Re: Anyone trading GBPJPY?
A non-event today, with little or no interest in this, or any of the popular pairs. It’s drifted in light New York trade & the low risk shorts still hold the upper hand into Tokyo.
Sentiment remains mildly bearish, with COT flows flattening. It’s pretty much neutral regards main drivers on this one with all the talk of BOE rates & (on/off) risk aversion on the front burner.
The supply has churned over remarkably well considering, but if you’re short this pair (which has remained the clever play), you might want to use the near term techs to re-adjust your weighting again into this week action, as was the case lower down off the 205.0 dble bottom print.
One of the tech fella's here reports Fib interest at current levels from the kick off 205 to the recent heights up at 214.0 for those of you who follow that stuff.
Apparently, it bounced a 50% on Friday at 209.30 & presently resides at the 38% here at 210.50.
Anyhow, clear upper-lower markers are very visible & tradeable.
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