GBPJPY Update

If this hour's candle closes above 154.50, it could be a good indication that the The move could could continue up. Remember, EUR bank holidays is causing light volume, so it can cause price action (PA) to be erratic. News for the Sterling has been good as of late. Many top economists are still concerned with the credit crunch, which hasn't gone away, along with fears of deflation risk. There is an ECB meeting later in the week where these topics, especially deflation fears, will be discussed.

EURUSD is trying to break into new territory also, with the 2009 high of 1.4169 being threatened. another break to watch, but not liking trades in this market during the bank holiday. Maybe a good scalp opportunity, but needs to be watched closely.

Making the move now as this entry is written.