GBP/JPY mid term trade outlook – 14 Sep 2009
September 14th, 2009
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149 to 150 has been a prior support area for this pair. The daily trend has lost a lot of momentum, and does not give a strong indication of direction at this time. The 4 hour trend has become quite oversold and looks like it may try a rally.
There has been a good move down from 153.00 but this is the time to be careful. If the 4-hour trend crosses up, back off shorting and wait for an optimum entry later..
Below 149.00 is another great shorting zone!
(4h chart attached, TRSI trend looks like it may cross up soon).
