The timing point is based on the usdjpy pair, when usd hits resistance in the jpy at 116.70, weakness of usd relative to jpy, might be a good point to look for a reversal in gbpjpy.
What about the other EURJPY and other JPY pairs? They seemed to have went through the roof this past week. Also the bullish EURO and GBP seems to be dragiing uyp the JAP pairs as well.
Trade as if the floor underneath the dollar is going to collapse. Pick your points of entry well in GBP. If I see something once the session starts I will post it.
Right now I'm just developing a framework for trading, its not set in stone, and can change based on the price action.
1.8275 is still a good entry point. We will see it on this bull run on the counter trend. Will give room for JPY to hit 116.7 before rolling over, will also coincide with a break in the GBP/JPY pair. These consolidative moves will mark the turning points in the USD where USD will start to fall apart. Lots of data this week and next week.
