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Friday, June 12, 2009

GBPJPY setting up like yesterday

161.60 area is getting hammered but has been the main area of support for the past 14 hours. Rememeber, the overall trend is up, so this is to be veiwed as a retracement. Key levels to watch are a break of .59, then the psyche level of .50, the daily pivot, and then 161. A 50 pip retracement would be decent.

That's what I'm seeing right now. I won't make a vid of this one. If you want, you can review yesterday's, as it is the same sort of set-up.

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