Monday, March 28, 2011
Trend for 28th of March 2011
I do not have anything interesting to say today. I still hold to my position that gbp/jpy as well as aud/jpy will go down. I cannot say when it is going to happen, but I think it is going to be sooner rather than later. Aud/jpy is forming a 123 pattern at the level that it is now and the breakout of the pattern will give a sell signal for me. I am waiting for tomorrow as there is going to be a lot of important news from Europe, Britain and USA. As I am expecting a trend down from pound I will be closely watching data from Great Britain.
130.11 level is a sell point for gbp/jpy. Another interesting thing is about eur/usd. It now sits on the uptrend trend line and this could mean that either the pair will jump off it and continue its’ uptrend, or it will break the trend line and go down. Anyway, I am more concentrating on pound, but if I have time tomorrow (data from Euro zone comes first) I will trade eur/usd as well. So, my focus is on gbp/jpy and aud/jpy (gbp/jpy being number 1).
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