Firstly, I am not sure if I am going to trade in the coming week. We have interest rate statements from Australia, New Zealand, Canada, U.K , ECB, and Bernanke is going to say something, and to make it more interesting, U.S unemployment Rate is coming. I might just sit in front of my screen watching the market and watching some Japanese soap dramas. The week is probably too volatile for an old man like me to trade. :o:
Anyway, it is another Sunday night chart scanning session. GBPJPY jumps out. I admit that this is the pair that I traded the less, and with the least success in the past. 😆 Generally, I see the strength in YEN since last week. And , at the same time, I got a feeling that GBPUSD is hitting resistance soon. I am holding a negative view of GBPJPY. Well, as usual, I am always wrong 😀 . Let’s see how it works out.
Here is the ….. Trend Score. We have a strong downtrend grading towards GBPJPY.
Here is the…….CHART!