Bears started the week no stronger than they left the last as no lower lows were reached today. The candlestick did close in the hammer shape but I'm not too concerned over this as there may be some signs of further bullish development.
Both the tenkan sen and the kijun sen have changed from being absolutely flat to raising thier angle slightly, behaviour also imitated by sekou span A which with senkou span B flat, signals a medium bullish signal.
With no further lows, and closing at 141.441 I am still bullish on the GBP/JPY.
The tenkan sen closed at 139.444 and I have move my stop to this level. From a buy order on 17 December 2012 at 135.615 our trade now sits at 5,826 pips.
Thats it for today, happy trading everyone!
Both the tenkan sen and the kijun sen have changed from being absolutely flat to raising thier angle slightly, behaviour also imitated by sekou span A which with senkou span B flat, signals a medium bullish signal.
With no further lows, and closing at 141.441 I am still bullish on the GBP/JPY.
The tenkan sen closed at 139.444 and I have move my stop to this level. From a buy order on 17 December 2012 at 135.615 our trade now sits at 5,826 pips.
Thats it for today, happy trading everyone!
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