We are currently Long on a very good price at USD/JPY in yesterday’s support, however we took the risk of holding this position overnight. Enter long in case price breaks 108.4 and put stop loss slightly below 108.250.
Initial target for this long is 108.640 and on a later stage we are expecting 109.00 in case 108.00 is not broken.
GBP/USD on the other hand is a good shorting opportunity given that it failed to test the high on the retracement. The stop loss should be placed in today’s high while do not be ambitious with take profits because there are some strong support levels as seen from the chart.
