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Thursday, February 4, 2010

RE: GBPJPY


90.80 is holding for now as resistance on the USDJPY. GBPUSD broke support at 1.5885 and looks like it wants to carry a bit more. If the USDJPY can maintain resistance and the GBPJPY can break support at 144 and hold, we should see it continue to make a nice little move down, with support at 143.50 and 143.00. Key support to watch on the GBPUSD is 1.5850. 35 pip move down already on the GBPJPY, setting my stop to B/E.
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