Wednesday, February 16, 2011
GBPJPY Bottom out for Mega Swing trade??? - Part 1
I am of the opinion central banks will be starting to sound more hawkish second half if this year or next, if not already. Looking at multi years charts on a lot of pairs, there is a chance that we might be lucky to ride this bottoming out which does not happen too often in our lifetime. From the weekly chart, the consolidation and base forming could be over and as can be seen by the blue GMMA, it has started to turn up. One interesting fact to know is for the past 20 odd years, this pair had managed to go above 200.0 after a major crash, but the way up took longer than on the way down.
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