Thursday, 14 May 2009

GEPPY CHRONICLES: GBP/JPY TODAY 14 May

It's sink or swim time for geppy as we hover around major support @ 144/145 (0.50 Fib).
we need to watch PA react to this level. If we find PA @ 146 before London open then for me this will be good indication support may hold, however if PA remains below 145, then i suggest you hold on to your hats as we just might see 141.50 (0.786 Fib).

I have loaded up on longs @ 144.50 and have a SL @ 144. I am treating this down move as a simple retracement no more. Let's see how it plays out.

Happy Pippin

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