DislikedI'll take option #1 due to the correlations of the pair to the tops of the US and European equity markets. GBP/JPY has surged at a furious pace from the 160 level and now it's time to be realistic. The BOJ missed that much expected April and June increase in QE just as the stock market was topping out. Data in Japan is improving and we can see that the pair is going nowhere higher, not UJ, EJ or this one. Eventually 165.00 is in the cards for reasons on the pound side of it this pair too. UK data can't dazzle forever and even when it does now no...Ignored
Yeah, well, as was so wisely stated by fx3422271, ours is but a profession of speculation ; most inspired comment I've heard in ages
BTW, good to see the triangle breakout on UJ is going extraordinarily well. Or maybe I shouldn't mention that??
There is a possible 4th option, taking more than a week, but we'll see if 172.5 breaks first. Gotta keep it to three lines.