GBP/JPY is the big loser today, but it’s near support

GBP/JPY near the Sept high and the Aug trendline

All the excitement is mainly focused on the stock market but FX has been volatile as well. It’s no surprise to see GBP/JPY as the biggest loser today. The pair is down 1.6%.

Technically, there is a case to nibble on the pair here if you’re optimistic about the overall backdrop.

And it’s hard not to be. Today’s ISM numbers were great, the global economy is solid and there’s nothing like a stock market crash to make global central banks a bit more cautious.

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