Morgan Stanley booked a massive 1570 pips profit on its GBP/JPY long position as the trade hit its 144 target on Thursday.
Here is MS' view on the pair now:
>> We hit our target on this trade as GBPUSD made new multimonth highs. We think there is still a bit more upside for GBP in the coming week but don't see a need to re-enter GBPJPY for now. We still think the JPY will weaken and are expressing the view via CHFJPY. One of our top trades for 2017 is to be short EURGBP, but we are awaiting a better entry point. >>
..and here is this trade history as recorded in eFXplus Orders in real-time:
(Source: Morgan Stanley, eFXplus)
Copyright © 2016 Morgan Stanley, eFXnewsOriginal Article
