Forex Trader's Journal

Forex War Manual

Last journal entry 6.14.2010

Last GBP/JPY Technical Update 6.15.2010

I started the week shorting the EUR/USD, however risk appetite helped it rally. Recovery is the word in the air. The GBP/JPY is the pair of interest now, as it also rallied to start the week and like the EUR/USD stalled in the previous US/Asian/European session.

The GBP/JPY seems to have found a bottom at 134.00 area, and now a rally is possible if the market goves aboe 135.0. The first resistance is at 136.30, but the full projection of the rally is to 139.40 as seen in the previous update.

  Fan Yang Currency Analyst Commodity Trading Advisor fyang@fxtimes.com  

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