SaxoTV

Faraday: Trading sterling weakness against yen strength

237 views
November 30, 2015 for, forecast, foreign exchange, foreign exchange market, foreign exchange strategy, foreignexchange, forex, forex 2014, forex 2014 outlook, forex 2015, forex 2015 outlook, forex and more, forex aud, forex audusd, forex audusd short, forex buying, forex eurjpy, forex eurusd, forex exchange, forex gbpusd, forex idea, forex market, forex market overview, forex markets, forex saxo bank, forex strategy, forex trade idea, forex trade ideas, forex trading, forex trading 2014, forex trading 2015, forextrading, forward guidance, fx, fx crosses, fx forex, fx interbank marketsf, fx investing, fx market, fx markets, fx options, fx spot, fx strategy, fx trade, fx trade idea, fx traders, fx trades, fx trading, fx volatility, fxmarkets, gb, gbgbgb, gbp, gbp eur, gbp falling, gbp trading, gbp trading 2014, gbp trading 2015, gbp usd, gbp weakening, gbpchf, gbpchf november 2008, gbpeur, gbpeur 2014, gbpjpy, gbpusd, gbpusd 1.7, gbpusd 1.70, gbpusd 2008 october high, gbpusd 2014, gbpusd five year high, gbpusd labour day, gbpusd oct 2008 high, gbpusd record high, gbpusd trade idea, jpy, jpy crosses, jpy lows, jpy strength, jpyusd, xau, yen, yen 109.46, yen 110.00, yen 110.09, yen 148.96, yen 150, yen 6 year high, yen 6 year low, yen chart, yen crosses, yen dollar, yen drops, yen euro, yen fall, yen falls, yen inflation, yen interest rates, yen next move, yen rise, yen safe haven, yen strength, yen weak, yen weakness, yen's next move, yen's next move, yen's next move, yeneuro, yenyen, yern
Faraday trader Thomas Light thinks Sterling has looked vulnerable during the last two weeks and plans to pair it against a resilient Japanese Yen.

"If we take a look at GBPJPY’s daily candle chart you’ll see that prices have started to trend lower after failing to break above 188 resistance earlier in the month. This was followed by a break below the ascending channel."  
On the hourly candle chart consecutive inside days have formed a bearish descending wedge formation. 
Stop: 185.50 

Limit order to take profits just above the October lows at 181.20.