genxtrader

follow up on gbpjpy Feb 2015 trade

FX:GBPJPY   British Pound / Japanese Yen
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This is a follow up on GBPJPY             , looking at the chart as it stands the pair is entering into a serious area to reveal its hand,
its at a crossroads and could be in the process of changing trends,at any rate its certainly entering an area where a long can be taken with minimal risk,
The weekly chart is showing a dark cloud cover with a follow through and down side momentum is building. keeping the 200 day in mind and the fact that this pair can create very large range bound flag patterns we could simply be in a bullflag,however if it does break the 200 test and fail i will short and hold.
Thats my two cents worth
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