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| GBPJPY Daily |
Currently the price is at 100MA & 200MA and looks like it bouncing after a big daily red candle. This area also coincides with channel's lower boundary. With GBPUSD overly brought, I am looking to short this pair on bounces.
A Full Time Trader's Blog. The Forex and Commodities Trading with Technical and Fundamental Analysis
Monday, October 8, 2012
GBPJPY Channel
Since last week of July-12, pair has been constrained in a ascending channel with a consolidation at 100MA & 200MA and a false break of channel's upper trendline.
Currently the price is at 100MA & 200MA and looks like it bouncing after a big daily red candle. This area also coincides with channel's lower boundary. With GBPUSD overly brought, I am looking to short this pair on bounces.
Currently the price is at 100MA & 200MA and looks like it bouncing after a big daily red candle. This area also coincides with channel's lower boundary. With GBPUSD overly brought, I am looking to short this pair on bounces.
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