GJ-WAVE-OCT-2009

GBP/JPY probably finish climbing to the top (wave 5) after breaking 143.20 resist at 14/10/2009 and its was rally about 2 weeks and achieved at the highest point 153.17. After completed the circle, the trend made correction after its broke at the price 151.17 the channel which the line is parallel from wave 2(141.00) to the wave 5(ii) (147.40). From my opinion this correction seem like (a) correction. For the confirmation of this wave (a correction) will be down until the fibo 38.2 from the point 100(139.67) to the point 0 (153.17).

Others possiblity, the trend will go up to the area 151.17 as R1(resistance 1). The trendline analysis will be used to determine the trend at this coming week. I always use TF15 to determine the micro wave whether the trend continous down or go up to find R1(resistance 1). As usual I will not give any signal or prediction price for the GBP/JPY as we know the pair is very volatile. But it is sweet to make sell if the price break at lowest trendline in TF15 and the target price around 148.15 and stop loss at price 150.90. Hey, bro remember TRADE AT YOUR RISK. I will continously analyze for the pair GBP/USD and EUR/USD and will give you all the prediction of the price! (wink wink) smile.