DAILY SPOT GBPJPY - Tuesday's trade idea and technicals
With September’s 9 Big Fig rally stalling and consolidating around the 100 day average rate, but in the absence of a sell signal, this week’s outlook is to stay square on the open and to buy the dip. Monday’s saw sentiment weaken moderately with a 3rd lower daily low in a row and although intraday signals are not strong, for Tuesday there is a temporarily negative bias and the call is to sell modestly on the open and then at 134.22, this week’s opening trade with a stop loss at 135.75, Friday’s top. Targets are to 133.05, the last 2 week Marabuzo line, 132.16, the 12th Sep base and 130.80, the 2 week low trade.
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