Mr. & Mrs. Watanabe focus on GBP/JPY – Trendsetter FX

“GBP/JPY is the favorite Yen cross of Mr. & Mrs. Watanabe,” says Wilson Leung, Director at Trendsetter FX, while explaining his view on USD/JPY and Yen crosses. He is joined by Tip TV’s Zak Mir. Watanabe is the nickname given to Japanese FX traders.

Key points:

USD/JPY - Recommending clients to buy dollar-yen anywhere below 101.00 at least ahead of the payrolls… upside likely to be restricted around 102.50-103.00. Won’t hold above 103.00… Likely to see rejection around 103.00 by mid month or end month.