【Full-time FX trader cat’s GBP/JPY trade analysis 0526】

This is the pound-yen as of May 26, after the state of emergency was lifted.

I rode the 4-hour expansion as it was.

4-hour chart

I plan to take profit shortly after this, about 30 PIPs. It’s a grind up and then a reversal.

Next, the daily chart.

Moving averages have taken on a perfect order, but as I mentioned in the previous Bollinger Bands discussion, it’s still too early to say anything for sure. Of course I’d like a big move, but trading for expectations will likely yield better results when done with expected value rather than hope.

Next is the weekly chart

Even though I’m bearish, aiming for the middle band can still provide sufficient reward.

And then the monthly chart

The angle of the middle band is gentle, so the probability of continuing range-trading is high, but I’d like to see a breakthrough of the quiet that hasn’t been seen since 2017 soon.

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