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Dynamic Trader Blog - Forex Chart Pattern Signals

Tuesday, June 19, 2007

GBPJPY

Chart courtesy of Metastock. Data provided by Reuters Quote Center. GBPJPY 60 minute chart

The GBPYEN is still looking bullish despite the sell arrow.

The trend is your friend so awaiting the continaution of the upward trend with a buy signal maybe a safer option as opposed to shorting just yet. If we stay above short term pivot levels then we are safe for a continuation. A break below then use fib to determine the supports.

Good luck.