Past performance is not a guarantee of future results. Please remember that technical analysis is only a tool for trading and even targeted analysis is no guarantee of profits. Forex trading carries a substantial risk of loss and only discretionary capital should be used in trading.

Forex Trading - GBP/JPY Trying to Retrace Losses

Posted by Alex Chernomordin on Tue, 08/19/2008 - 9:26pm in

GBP/JPY

Utilizing the July 23rd highs and the August 13th lows we developed the retracement analysis below, showing a number of barriers the pair needs to break in order to gain any momentum to the topside (highlighted below). The 100 hour simple moving average is also providing good resistance on recent retracement attempts.

Alex Chernomordin's blog
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