DAILY SPOT GBPJPY - Wednesday's trade idea and technicals
Tuesday’s signals continued to point lower, but despite initial losses posting a fresh 5 month low at 136.54 buyers returned to the market for sentiment to close modestly higher on the day. The improvement has improved intraday signals so although there is no clear bullish reversal pattern the outlook for Wednesday is temporarily bullish and the call is to buy on the open and then at 136.86, yesterday’s opening trade with a stop loss at 136.44, yesterday’s low. Targets are to 137.81, last week’s Marabuzo line, 138.45, the 13 day average rate and 139.65, last week’s top
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