GBPJPY - Long or Short?

Good evening ladies and gentlemen

I hope you all had a wonderful day weekend and recharged for a great week in the market. The long weekend is a great opportunity to spend time with your loved ones but also to reflect on yourself. I hope you found time to do a bit of both.

I would like to apologise for informing you that NFP was out last Friday when infact it is out this Friday.

This week I am going to concentrate on a currency that features strongly on my watch list which is the GBPJPY. Below is the daily chart and we can see price had been shorting since July 08 up to January 09. Currently price is doing a retracement coupled with a divergence on MACD. Today's bar could be a possible doji with also a potential 123886 on the horizon. Look at the figure? However, the VI is not far off which is also sitting close to a RN and a conservative fib breather level. Could this be of any significance for you Swing Traders?





Is the divergence on several time frames? Could this be of any significance? I will leave it to you to analyse! It will intersting to see what happens over the next few days!

Alright Rich. I hope you had a wonderful weekend sir. Utd are looking strong. 2 slip ups in 4 games looks unlikely! We are cursing all those home draws!!

The answer to my riddle is "Ask, Believe, Receive!"

The answer to you riddle is a complete stab in the dark and I am going to say "Never ever ever ever give up!"

Till Tomorrow

Abundance is your Birth Right

Zaheer Anwari