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BK New GBP/JPY Big Trade +75
CLOSE GBP/JPY Long at market currently 194.03 for +75 on trade
***Update Order to Buy 1 Lot GBP/JPY at 193.28 TRIGGERED
1. NEW GBP/JPY Order
Place Order to Buy 1 Lot GBP/JPY at 193.28
Place Order to Buy 1 More at 190.85
Stop for ALL at 189.30
There’s a good chance that the Fed could leave the FOMC statement unchanged. There’s still 2 more employment reports until September and they may want to see how the labor market fares before telling the market they are committing to Sept tightening. If they do, traders will probably sell dollars in disappointment. We want to use this opportunity to buy dollars at a lower level. However we prefer buying GBP/JPY because the hawkish bias of the BoE and FOMC should be compounded gains for the pair.