GBPJPY & Interest Rates

Chart courtesy of Metastock. Data provided by Reuters Quote Center.

Good morning,

I have been stopped out of the GBPJPY trade I was in with a small profit. The chart above shows the daily GBPJPY and it seems the chart may continue it's uptrend direction so I am awaiting a signal to take a long position on the mechanical trading system but watch out for the figure.

The Pound direction on the crosses will may largely be dependent on todays interest statement so I would suggest you DO NOT take out any trades prior to the news coming out this afternoon.

We may be witnessing a temporary bottoming out on the USDCAD pair at the figure and fib extension and daily candlestick. We had a small bounce on this pair and I will provide a detailed chart of this tomorrow for you.

Hope you have a profitable trading day. All the best.