GBP/JPY MONTHLY CHART
September 3rd, 2008
New monthly candle for September shows Momentum indicators still below 100 but beginning to turn upwards. The red 200 sma will provide some support. Price has made a new low around 192.06 or so.
If this support breaks, look for the previous swing low at 179.37 from October 2003 to be the next major downside target.
The weekly chart shows the lower low that was made. The 1 candle mom is showing a retrace coming.
September 13th, 2008 at 11:17 am
As the famous Alexander Pope saying - “In words, as fashions, the same rule will hold; Alike fantastic, if too new, or old: Be not the first by whom the new are tried, Nor yet the last to lay the old aside.”…