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GBPJPY May Fall IN Risk-Off Mode

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July 31 2018

Traders, good morning with a quick outlook from vacation. I am in Bale/Valle with my family, having a great time in mobile house, but like every year its very difficult not to look at the market price action. So after a quick look at quotes I noticed interesting potential risk-off developments on S&P500 Futures where I see five wave fall on intraday chart, which means more downside may come soon. If that's the case then in risk-off mode we may expect strong JPY. I am looking at GBPJPY for a pullback after that nice drop from wave C highs that suggests a completed wave four of a higher degree.

Trade well,
GH






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