:: hi JBear, the question is what do you want to do? long term trade or short term? And what kind of risk? ... Like in previous answer it stays the same, GBP is weak (white) JPY is high/strong in the currency strength. Like the picture I attached here you see clear that there is a correction several days now... this is or can be hard to trade if you don't take a higher risk of trading. What the last few days proof is that it fails to go higher (looking for a break out), but still the currency strength of GBP is weak, so the overall chance it will break is smaller then the pullback of JPY ... in that way trade in favor for JPY only (higher risk in the correction) ... if GBP regain itself, proof with breakout + correction on breakout (re-test) then we think about going in favor with GBP, otherwise not. Waiting

This is a 1 hour scale, you can find your answers like this also in lower time frames, but still keep a low lot size & more room to move around if you are in trade, especialy for this agressive currency pair...

This is just the big view of "where to start looking first", if you going in a trade then all indicators will come in play, but before that don't fool yourself & that is equal loosing money...

IN10TION

Quote:

Originally Posted by JBear Hi In10tion Thanks for the explanation but I am still a little unclear I have attached a screenshot of todays movements with the GBP/JPY Could you please advise how you would position yourself here and what you expect could happen and why? Thanks in advance JBear