Tuesday, September 20, 2011
Gbp vs Jpy 1H & 4H
Gbp vs Jpy (1H) - At the moment, I believe market will perform another bearish continuation trend scenario either to complete subcorrective wave b in yellow or the incomplete of subwave 5 in magenta before any potential towards a bullish reversal trend senario. A valid "sub-rising wedge" pattern in magenta would bolster to this scenario.
Gbp vs Jpy (4H) - Favourably, I believe market just in progress to complete a "Bear Trap" scenario which is a typical pattern in diagonal triangle reversal indentification. Either we shall see market to further down until 118.xx before a possible reversal or reversal soon is still yet remain to be seen. Good luck.