Wednesday, July 2, 2008

Gbp vs Jpy 1H


At this moment, price still moving inside the teal triangle. I'm looking forward for a symmetrical triangle pattern abcde (cyan) which is synonym to a bearish continuation corrective pattern to be perform later today. Please noted that there will be a NFP announcement later tomorrow at 8.30 pm (GMT 8+). A further breakout to the lower teal triangle and bearish continuation line 2 would bolster the bearish continuation scenario. Otherwise a true breakout to the upper major green trendlines would put this scenario in critical moment. Good luck.

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