Gbp/Jpy trades above 100 hour M/A

Written November 4, 2009 at 4:06 AM EST by  

Gbp/Jpy is trading above its 100 hour M/A of 148.75. If it holds above this level look for a run up to the 200 hour M/A at 149.42. This level should provide good resistance as the 61.8% Fibo lies at 149.42 and an old data line of previous lows adds more resistance (149.43). The pair should be hard pressed to break above the 200 hour.

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