Objective Forex: Monday GBPJPY fresh play

Monday, July 6, 2015

Monday GBPJPY fresh play

Welcome back, hope everyone had a long relaxing weekend with the holiday, we're immediately jumping into things with slightly more stable markets, EURUSD continues to evade our radars on a good setup but we have found one on.. GBPJPY! GBP continues to be strong and after some cooling down and pullbacks GBPJPY is ready to roll again.


Remember that GBPJPY swings much more then other pairs and please adjust your leverage and position size to account for this. Take a look at the solid trend and channel here, keep in mind due to the slight drops even breaking this trend does not signify a big drop and this should be a solid play.
(click to enlarge)

SLTD update:

Unfortunately the bearish markets have pulled this pick down much more then we would have thought. Fear not as reaching 3.00 and slightly below is strong support, this would be a place to average down, or open up an even larger position as if you take a look at the technical indicators SLTD's RSI has only dropped this low 2 years ago. After that is was all up with huge percentage swings. At these levels there is very little that can bring the price down further than this due to the attractive share structure. We also want to share our research team has found there is news coming soon, that's all we can release at this time.

Good luck trading today, as always come back and see us.

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