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Disclaimer: This is my personal Blog, reflecting my very own views on Forex , shares and commodity tradings. As such, all informations provided here are barely for information purposes only,. The author should not be held liable for any errors, incomplete information, delayed messages, or for any actions taken in reliance on information contained herein.This blog is new, being established on 06,May.2010. While I am executing trades, posting will be sent simultaneously. The date/Time indicated here is of US Pacific zone(++15 Hours for Singapore/KL/Beijing, Or ++7 hours GMT)

Wednesday, August 4, 2010

GBP/YEN-----the GEM of FX of the week ??

Basing on the same thoughts  and reasonings  on YEN  on the USD/YEN  from my last posting here, incorporating the imminent weakness on the GBP  from now onward,  , in tandem with  the next big movement on RISK AVERSION prior to the NFP release, ,  I am thus  concluding that this GBP/YEN will be the GEM for the next few days. (For SELLING DOWN)




H1 for GBP/YEN




H1 for GBP/YEN (Expanded View)




On H1 chart, GBP/YEN is now testing the 136.80, (50% Fibo Retr) , which is also near the top Ichimoku cloud Support. Breaking this support convincingly shall expose the 136.57 ,(61.8% Fibo Retr), which is also near the Ichimoku Cloud Bottom Resistance.. Further downward shall see next support at 135.84 (its recent Low), then 134.90 0n Daily chart( 61.8% Fibo Retr on Daily Chart)


All indicators are confirming the Bearish downtrend near term
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