{"id":1261,"date":"2021-05-31T14:49:04","date_gmt":"2021-05-31T17:49:04","guid":{"rendered":"https:\/\/wintrademarkets.com\/news\/?p=1261"},"modified":"2021-05-31T14:49:49","modified_gmt":"2021-05-31T17:49:49","slug":"a-look-at-fx-monthly-performance-and-the-chart","status":"publish","type":"post","link":"https:\/\/wintrademarkets.com\/new\/2021\/05\/31\/a-look-at-fx-monthly-performance-and-the-chart\/","title":{"rendered":"GBP\/JPY longs were the best FX trade this month"},"content":{"rendered":"\n

<\/h4>\n\n\n\n

The pound was easily the best performer this month gaining 2.68% against the US dollar, followed by CAD and CHF. The yen was the laggard, down 0.45% and AUD was the only other G10 currency down against the dollar.<\/p>\n\n\n\n


A big move in GBP\/JPY came yesterday as the pair soared to the highest since 2018. It touched 156.07 in a 188 pip daily move. It’s now facing the 2018 high of 156.61 and that’s a huge resistance level on the chart:<\/p>\n\n\n\n

\"A<\/figure>\n\n\n\n

Equally impressive is that this chart is coming off a double bottom last year and has a clear target at 190.00. You would have to construct a narrative of a boom coming out of COVID in the UK and ongoing malaise in Japan but the BOE can shift its plans quickly and a few rate hikes could get us there over time.<\/p>\n\n\n\n


This chart also looks much like the recent gold daily chart, which formed a similar double bottom, then briefly stumbled at resistance before busting through.
<\/p>\n\n\n\n

I like the trade in a lot of ways, but it’s a ‘buy on the break’ trade not a ‘buy and hope for a break’.<\/p>\n\n\n\n


What do you think will be the best trade of June?<\/p>\n\n\n\n

Source: https:\/\/www.forexlive.com\/technical-analysis\/!\/gbpjpy-longs-were-the-best-fx-trade-this-month-20210528<\/a><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

The pound was easily the best performer this month gaining 2.68% against the US dollar, followed by CAD and CHF. The yen was the laggard, down 0.45% and AUD was the only other G10 currency down against the dollar. A big move in GBP\/JPY came yesterday as the pair soared to the highest since 2018. […]<\/p>\n","protected":false},"author":2,"featured_media":889,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[42],"tags":[],"class_list":{"0":"post-1261","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-daily-news"},"_links":{"self":[{"href":"https:\/\/wintrademarkets.com\/new\/wp-json\/wp\/v2\/posts\/1261","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wintrademarkets.com\/new\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wintrademarkets.com\/new\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wintrademarkets.com\/new\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/wintrademarkets.com\/new\/wp-json\/wp\/v2\/comments?post=1261"}],"version-history":[{"count":2,"href":"https:\/\/wintrademarkets.com\/new\/wp-json\/wp\/v2\/posts\/1261\/revisions"}],"predecessor-version":[{"id":1264,"href":"https:\/\/wintrademarkets.com\/new\/wp-json\/wp\/v2\/posts\/1261\/revisions\/1264"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wintrademarkets.com\/new\/wp-json\/wp\/v2\/media\/889"}],"wp:attachment":[{"href":"https:\/\/wintrademarkets.com\/new\/wp-json\/wp\/v2\/media?parent=1261"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wintrademarkets.com\/new\/wp-json\/wp\/v2\/categories?post=1261"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wintrademarkets.com\/new\/wp-json\/wp\/v2\/tags?post=1261"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}