today i am using a tight stoploss.gbp/jpy might reverse and head back up.

Gbp/jpy is consolidating between 137 and 140 a break of 137 I will sell and break above 140 I will buy.I view in the longer term daily is bullish. I think we have a nice move upward coming.

looking at the point and figure chart I see a resistance to the downside was broken.I see 136 is a good place short with a target of 133 and extension to 130.  137 I see maybe more up-movement.

the second chart is weekly chart and really can see a very good down-movement to begin!!!

monday march 8,2009

I see a move up to last resistance point around 1.2742. an head back down to complete 4hour bottom

watch for weakness. follow the up move following price action.from sell  1.2742

to take profit at 1.2530