British Pound Melts Down Against Japanese Yen

The British pound has melted down against the Japanese yen during the trading session on Thursday as Russia has attacked Ukraine. This obviously has caused quite a bit of fear in the market, and therefore it makes sense that we would see plenty of selling pressure when it comes to risk appetite. Ultimately, this is a market that I think will continue to be very difficult to deal with but at the end of the day it is likely to see more selling than buying. Because of this, I like the idea of fading rallies as they occur and jumping on them at the first sign of exhaustion. This will be especially true if things actually escalate in Ukraine, something that seems very possible.