This pair has plunged extraordinarily from 2015 to date. This is mainly due to the extremely weak sterling, and strong Yen (Risk Aversion). We have seen a stabilization of the GBP in recent weeks/days, and on several JPY crosses that seem to suggest Yen strength is fading. This could lift this pair significantly, because of the sheer size of the plunge. Bear in mind we are still in a downtrend. (Observe 132.2 level, if this breaks, we could be mid-term bottoming)
Trade Idea : Long GBPJPY, 126.6 SL : 125.89 TP 1: 130.2 TP 2: 132.2
Komen
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Shifting SL to entry at 126.6
Komen
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Both Target price hit, currently holding 1/2 of my initial position with trailing SL, targeting 138.2
Komen
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I've decided to book my 1/2 position at 136.6. Lets not be greedy :) +1000pips. Position closed.