Realised gains before UK CPI came out

In the previous entry, I mentioned that I went in long for GBP/JPY.

I wanted to close my position although the trade did not reach my target price. The reason behind this is simply not wanting to risk my unrealised gains. This is a volatile pair and a 100 pip movement in a day is possible.

I closed my position with a 70+ pip gain. 

The consumer price inflation (CPI) was terrible this time, it dropped by 0.3% in comparison to the previous month and failed to meet estimates. The key points of the report are: 

• The Consumer Prices Index (CPI) grew by 1.6% in the year to July 2014, down from 1.9% in June.
• Falls in clothing prices provided the largest contribution to the fall in the rate. Other large downward effects came from the alcohol, financial services and food product groups.
• The largest, partially offsetting, upward effect came from the transport group.
• CPIH (not a National Statistic) grew by 1.5% in the year to July 2014, down from 1.8% in June. RPIJ grew by 1.8%, down from 2.0% in June.
• The National Statistics status of CPIH has been discontinued pending work by ONS to investigate and improve the method for measuring owner occupiers' housing costs in this index. Full details can be found on the UK Statistics Authority website and an explanatory note on the ONS website.