GBPJPY – Breakout Trade Takes Off for +180 Pips (4hr chart)
As we’ve been writing about over the last several commentaries, we’ve been anticipating a breakout trade on the GBPJPY. In early trading today, the pair busted higher, jumping well over +180 pips from the 186.05 breakout level we’ve been talking about, reaching and intra-day high of 188.15
Those who traded this would have made a heavy profit by this now. I also traded this, using the pyramiding trading strategy which I’ll be releasing the video on early next week so stay tuned to see how I traded this using my own money.
For now, corrective pullbacks towards 186 could be considered buying opportunities. Our targets remain the same of 189 and 191.
Nikkei – Breakout Trade Continues to Profit (4hr chart)
Earlier this week (and last week) we’ve been calling for a breakout in the Nikkei. After the brief false break on Monday, we wrote in our members commentary we suspected the weak players had been taken out, and the real breakout was going to happen then.
As you can see from the chart below, this is exactly what happened, with the Japanese index running over +390 points higher. Anyone who traded this would have made a massive profit by now.
We’ll look for weak pullbacks into the key support levels around 17.7 and 17.640 to get long. Upside targets are 17900 and 18000.
Also in our members trade setups commentary today, we cover the EURUSD, AUDUSD, USDJPY, USDCHF & Dax. Click here to become a member.