thats why ive been staying away from yens and trading gu only. i dont trust it and im not having the last 3 weeks gains wiped out in 3 seconds if boj decides to go big.
having said that, boj probably isnt too bothered about gj, its UJ they are interested in and that still has a long way to go to get anywhere near the 85 bottom. so there may be plenty of room in gj purely on pound weakness providing uj isnt moving up.
gu im happy to short on a break of 6250, or on a rally somewhere above 6300. pound weakness, dollar strength, much simpler i think.
pre-budget report out tomorrow, should cause some movement in the pound. cant imagine they would like anything in it but you never know.
having said that, boj probably isnt too bothered about gj, its UJ they are interested in and that still has a long way to go to get anywhere near the 85 bottom. so there may be plenty of room in gj purely on pound weakness providing uj isnt moving up.
gu im happy to short on a break of 6250, or on a rally somewhere above 6300. pound weakness, dollar strength, much simpler i think.
pre-budget report out tomorrow, should cause some movement in the pound. cant imagine they would like anything in it but you never know.