» GBP/JPY - British Pound Yen, European Session - 09/05/08

202,35. GBP JPY is in an downtrend directed by 1H exponential moving averages. The volatility is high. Bollinger bands are parallel and form the trend. ForexTrend 1H, daily (Mataf Trend Indicator) is in a bearish configuration. 1H, 4H ForexSto (Modified Stochastic) indicate a bearish pressure on GBP JPY. The downtrend should continue to gather momentum. The target is expected at 199,00 (335 pips).
=> We could take a short position at 202,40. We will put the stop loss above 203,00 (-60 pips). The targets are 201,00 (+140 pips) 200,00 (+240 pips). Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 3.