2007-11-26

Dodgy business with GBP/JPY

GBP/JPY 1 week chart:
H&S formation still here, however due to high volatility and extremly high carry-trade interest (paid 70 EUR for 150K per day last week) - do not enter short.
GBP/JPY 4h chart:

a wedge is formed, also is broken to the "correct" side. Now - 237 - 238 is the target. Once again - do not trade it, do not trade it, do not trade it :)

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