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Tuesday, June 30, 2009

RE: GBPJPY Trade Signal and Tokyo notes

The Drop in the Cable, some 300 pips was too much for the 100 pip fall in the USDJPY, and caused the GBPJPY to fall, and not maintain the break up out of Consolidation. Trade closed at -50 pips.

Everything accross the board is consolidating, going into Tokyo. It looks too good to be true, and probably is. If I were to chose one, it would be the Cable, just because it has room to retrace, and/or the sharp decline could continue.

Not going to make a Tokyo video today. Don't have time. So trade safe everyone, and we'll see how London shapes up. Will probably post a video then.

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