We wanted to update everyone on our gbp/jpy position which hit our profit target of 146.25 last night during the Asian session. As we mentioned on the blog yesterday the gbp/jpy formed a bull flag pattern and then continued to our targets. We pocketed 213 pips and from the feedback we received, so did a lot of our followers!! We consider anytime you can take advantage of a run like that during the week of non farm a complete success. 4xSummit will remain very cautious today and tomorrow as we get very close to Friday's big fundamental announcement day.
To the Summit,
4xSummit
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