Originally Posted by Enivid
The funny thing is that it's till trading inside the range. A long position can now be recommended as it's currently bouncing off the lower limit and will probably reach the upper limit of the range.
The only opportunity that I saw today in gbp/jpy was in early european session when the pair hit 132.86, formed 123 and go long above that high on 15 minute chart. 40 pips of meat. Although looking at 8 hour and daily chart the picture is very bearish. I smell a breakout down sooner rather than later. Yes, I agree, it has been in a range for two months.