Booked out of Cable long..have a look at Sell GBP/JPY trade

Booking out of sTerling long mentioned here ( at 1.3970

I shall keep my eyes off cable for now as GBP/JPY cross has gained my attention.

GBP/JPY 15-min chart

GBPJPY m15 (02-26-2016 1736)

The pair has breached rising trend line and is struggling to get back above the same. With Brexit still looming, sterling could take a major hit again if the US data is strong. Yen may remain relatively resilient. Hence, cross appears poisd to test 156.87 levels.

I enter a short 157.45 target 167.87 stop 157.70 (15-min closing basis)



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