Forex: GBPJPY and USDJPY Opportunistic Trade Options
• 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
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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.