GBP JPY – Potential short continuation if zone is rejected.

British Pound/Japanese Yen FX:GBPJPY

LupaCapital

Hello traders and analysts,

we have a great opportunity here for a short swing if the criteria is met
remember price is reactive to levels so only trade this scenario if it fits with your criteria.

COT data,
GBP
Long Short Total %Long %Short
1,477 43,607 75,084 43% 57%
JPY
Long Short Total %Long %Short
26,924 52,964 79,888 34% 66%

Price can break the daily level with the following;
GBP news of re-opening the economy for public spending internally
Progress with EU trade deal
Breaking through the 1.25 level and closing higher on a daily close.
Gold movements sell off

Price can be short if:
risk off sentiment is present with coronavirus – as safehaven currencies become stronger
fail to break 1.25 to the upside
Stalled EU trade talks
correlation with gold buys

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Team Lupa

more info

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