In our Daily Trade Watch video, we look for high probability trade setups that we can trade throughout the day. Today, we have GBPJPY on the cards after a big day.
Shortly, we have OPEC-JMMC meetings impacting the Oil markets and at 1.30 pm UK time we have nonfarm payroll numbers. These events are likely to be very volatile for most of the markets we look at. So we have identified an opportunity outside these potentially volatile events.
The market we are looking at is GBPJPY. The pound has its own structural issues right now with the coronavirus, Brexit negotiations and the monetary response from the BOE regarding reducing interest rates. Additionally, the JPY is a safe haven trade so this market is likely to push lower if prices break below 136.96 recent lows.
GBPJPY on the Cards After a Big Day – Full Video Analysis
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