GBPJPY: See Economic-Fundamental Prediction and READ CAREFULLY!
I am anticipating the economic catalyst for the UK will push this up. It looks like others are also lining themselves up for this small trade. Maybe it will get the ball rolling in the yen as well, but I think the main move here will be the GBP.
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Please see comments on UK data this morning. One of the risks to the trade was UK shopping prices. It was one of the LARGEST DROPS on record last month. So, what happened today for me was expected and a potential risk. And that is what we got. So, everything is ok. The best thing I am doing now is holding my US Dollar longs and keeping an eye on UK data, which has been the hardest to manage and predict since the BREXIT. I said that I will wait another month ago to start predicting the data. I am actually better at risk assessment now..