SaxoTV

Lucas: GBPJPY Death Cross gives life to short strategy

260 views
October 28, 2015 GBP, bonds, bondsg, eur, eurgbp, eurjpy, euro, euro area, euro crisis, euro dollar, euro strength, euro zone, eurocrisis, eurodebt, eurodollar, europa, europe, europe growth, european, european central bank, european economy, european recovery, european union, eurozone, eurozone crisis, eurozone economy, eurozone recovery, eurusd, fiorexforex, foreign exchange, forex, forex 2014, forex 2014 outlook, forex buying, forex eurusd, forex exchange, forex idea, forex market, forex market overview, forex markets, forex saxo bank, forex strategy, forex trade idea, forex trading, forex trading 2014, forextrading, fx, fx crosses, fx forex, fx investing, fx market, fx markets, fx options, fx spot, fx strategy, fx strategyf, fx trade, fx trade idea, fx traders, fx trades, fx trading, fx volatility, fxfxfx, fxmarkets, gb, gbgbgb, gbp eur, gbp falling, gbp trading, gbp trading 2014, gbp trading 2015, gbp usd, gbp usdg, gbp weakening, gbpeur, gbpeur 2014, gbpeur 2014g, gbpjpy, gbpusd, gbpusd 2014, gbpusd labour day, gbpusd record high, gbpusd trade idea, growth, jp, jp morgan, jp morgan chase, jp morgan earnings, jp morgan q1, jp morgan q4, jp morgan results, jp morgan shares, jp morgan stock, jpjp, jpjpjp, jpjpjpfx, jpm, jpm eps, jpm results, jpm us, jpm', jpmorgan, jpmorgan chase, jpmprgan, jpn, jpy, jpy 110.00, jpy cross, jpy crosses, jpy highs, jpy levels, jpy lows, jpy strength, jpy weakness, jpychf, jpyusd, saxo tv, tradingfloor.com, xau
Steve Lucas from 3c Analysis has spotted a Death Cross, where the 50 day average crosses below the 200 day average, in GBPJPY and expects weakness in sterling to support his short strategy. 

An October rally has stalled at the 50 and 200 day moving averages and the pair has broken a trend of higher weekly lows. 

Sell at market and 184.60 

Stop: 185.26, Friday’s low.
Targets: 182.76, the 15th Oct low and 181.84, the 2 week base.