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Thursday, June 4, 2009

GBPJPY Update


So far, I'm not seeing much on the GBPJPY. There is a definite resistance setting up on the 156.85. Could watch for a break above that for a possible scalp with a tight stop, or a possible fall back to 155.72, to form a range. Just keep an eye on the PA. After the wacky 48 hours we just had, I'd be careful and keep trades small until something more definite and clear sets up. I'm thinking about a rebound today, and weakness back in the USD. Have to keep an eye on US equities in overnight trading to see if they are back up.

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