In our Daily Trade Watch video, we look for high probability trade setups that we can trade throughout the day. Today, we analyse how pound strength continues and EURJPY.
The continuation of the move in the pound is a direct result of the ever-changing fundamentals behind Brexit negotiations. Since last Thursday, there has been an air of optimism about the potential of a Brexit deal with a draft proposal in the pipeline. As a result, we have seen the pound strengthen significantly with further continuation expected, especially, if a deal is reached.
Elsewhere, we have identified another high probability in the EURJPY. We have seen prices close above both the monthly high but also above 120.00, which is a major psychological level in this market. Also, technically, we have seen prices create a structural failure to the upside, adding more momentum to the upside. So, if prices break above yesterday’s daily high of 120.23, this would give us the signal to go long in this market.
Pound Strength Continues and EURJPY – Full Video Analysis
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