Friday, September 04, 2009

Bounce From Target

Above is the GBP/JPY 4 hour chart. The pair reached the target mentioned in my previous post (projection of AB) at 149.34 (see previous post). The pair bounced and touch the resistance trendline, near 30 EMA in 4 hour chart. Resistance level is still the same (see resistance) with support now at the previous low.

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