GBP/JPY 01.24.15 -200

Swing

One New Order for GBP/JPY

Place GBP/JPY Sell Order at 168.25

Stop @ 169.25

Close ½ @ 167.75, move stop to 168.25

Close rest @ 167.25

Both GBP/USD and USD/JPY are getting crushed today and this is the perfect recipe for disaster in GBP/JPY. The continual decline in U.S. yields and the dovish comments from BoE Governor Carney who said the strong currency will hamper export growth supports a further decline in the pair. We are not to sell at market but on a break of the January lows which is why our sell order is at 168.25. This is the ONLY order we have on at this time.

Update

BKSWING Short GBPJPY at 168.25 triggered stop 169.25 T1 167.75 T2 167.25 Trading forex carries risk

Update

BKSWING stopped on short GBPJPY -200 on trade.