The GBPJPY has bounce from the horizontal support level but couldn’t reach a new high. The door is still open for another attempt to test the daily channel resistance but the lower high makes me uncomfortable to enter long at this level. I rather wait for a pullback for a safer entry… perhaps some fasthanded bears trapped below 136.00 level. I still consider the two previous pullbacks as missed opportunities.
GBP/JPY: holds above support
This entry was posted on Thursday, August 5th, 2010 at 10:21 am and tagged with GBPJPY and posted in trading note. You can follow any responses to this entry through the RSS 2.0 feed.
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