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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Friday, June 12, 2009
GBPJPY setting up like yesterday
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