Long GBPJPYFundamentals:- The consistently weaker Japanese economy has caused a sell off on the safe haven assets and until trade wars raise there concerns again. As for the GBP a new dawn is approaching as the MPC scale closer and closer to interest rate rises we should see more of the committee members vote in favour of a rate hike tomorrow pushing the GBP higher against most currency pairs.
Technicals:- The recent high breaking the 14700 level induced a pull back to previous support and a fib retracement of 38% also a previous area of resistence. This looks like good a place as any to launch new buyers into the market.
