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Forex: GBPJPY and USDJPY Opportunistic Trade Options

Forex: GBPJPY and USDJPY Opportunistic Trade Options

2013-11-12 05:14:00
John Kicklighter, Chief Strategist

Talking Points:

• Major fundamental themes like risk trends, the FOMC Taper and ECB easing are lurking but not active

• Opportunistic trading on exceptionally quiet pairs, clear ranges or imminent data is more appropriate

• We look at short-term opportunities with pairs like GBPJPY, GBPNZD, USDJPY, NZDUSD and others

Sign up for John’s email distribution list, here.

Looking at the 50 percent Fib on EURUSD or 350 point range on GBPUSD, it is easy to envisage a major break and/or trend developing. Yet, the markets rarely do what we want them to. While there are a number of fundamental points over the coming 24 hours, few of them have a hope of reviving the major fundamental themes that move our markets - much less keeping them moving. That said, there are plenty of short-term setups that the opportunistic trader could take advantage of under the right scenarios. In today's Trading Video, we discuss a number of these setups and their fundamental drivers including GBPJPY, NZDUSD, USDJPY, AUDNZD and others.

Expect breakouts? Use the DailyFX Breakout 2 strategy to signal or confirm setups!

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.