Hello traders good to be back with you and we take a look at the GBPJPY today and we are really in the sweet spot now just before the London open. We are looking to enter this trade at the price level of 140.25 with some conformation. I am thing to place my stop at the 140.75 and I understand this is a 50 pip drawdown and I really do not like that so I will monitor if this comes alive. Traders i would like to take profit at the support level at the price of 139.20. The only issue with this trade is that we have data later in the London session and we would like to be break even before that happens.
Thank you traders and we will talk soon……William