Non Farm Payroll News Trade

The GBPJPY was the currency pair to trade this time around during the Non farm payroll announcement at 8:30am this morning. There was a perfect support and resistance level created within our 15 minute time frame. Although the news was really choppy on other currency pairs, the Sterling Yen was acting really well and may be the pair to trade for future announcements.

Broken down in text format, the support and resistance levels are the thick red lines with news being released at 8:30am, this chart is based off the time zone metatrader uses. With our 10-12 pip buffer we entered long around 206.20 and only suffered a minor pullback before we launched for a fairly easy 100 pips. If you hung on for some retracement you could have had close to 185 pips on this breakout news trade.

 
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