*Attached chart (Weekly). Click on it for the enlarged version.
Hello everyone,
It appears that EUR/JPY is having a mega consolidation in the weekly chart. It is in this huge closing wedge and despite last week's big price rejection on the down side, yesterday's movements [08-05-2008] manage to create a new low.
After yesterday's bearish movements in the hourly chart, we are looking to short it only if a short opportunity arises. If a short opportunity arises at a good time and price and we are in it, our Target Profit will be at the support at the bottom wedge.
Peace and trade safely everyone...
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Friday, May 09, 2008
Quick Look on EUR/JPY [09-05-2008]...
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