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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)

Sunday, February 20, 2011

GBP/JPY--- star of FX is in the making?? --towards 145.00 ??

In view of the impending strengthening of GBP and the  weakening of YEN due to its bearish fundamentals, we reckon that GBP/JPY can be the out-performing currency pair near term.

Weekly GBP/JPY chart 


Weekly GBP/JPY chart(Enlarged)


Technically, GBP/JPY has breached its resistance near  135.10 on Weekly chart above, , and the strong bullish momentum shall lift this currency pair above 138.42( the 38.2% Fibo Retr), and then sighting the level 141.14 (23.6% Fibo Retr) and beyond.
 The possibility of  lifting from 141.14 to 145.00 cannot be totally discarded.
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