SPOT GBPJPY - Tuesday's trade idea and technicals
Like last week, this week’s signals are counter-trend and have pointed to staying long and buying the dip at 128.26. This was virtually yesterday’s base, though with gains of almost 2 Big Figs from the low unable to prevent a down-day. In fact selling has returned in Asia this morning and with signals pointing lower the outlook for Tuesday is bearish and the call is to sell on the open and then at 129.68, today’s opening trade in Asia with a stop loss at 130.31, Monday’s Marabuzo line. Targets are to 128.31, yesterday’s low, 127.46, the 15th Aug base and 126.54, this month’s low trade.
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