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Old 06-24-2008, 01:48 PM   #1

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GBP/JPY Daily Levels
Looking at the daily GBP/JPY we can see that we are trading close to support at the 38% fibonacci level and Senkou Span Line.

We are bullishly trading above the Kumo (cloud) and we received a normal strenth buy signal when the Tenkan-Sen crossed above the Kijun-Sen from below within the Kumo.

The signal would have been stronger if the crossover had taken place above the Kumo.

To the upside we have major resistance at the 50% retracement level, 216.63.



Analysis By TradersLog.com
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