Posted by: Babu Suresh | May 6, 2009


GBPJPY M30–ChartsGBPJPY_M30-060509

Hello Friends,

Today’s correction, although I would call it marginal but quite healthy a one. Nevertheless, I would not recommend position trading at these levels esp. when more than traders’ sentiment, media loyalty and tone keep jumping from positive to negative and vice versa, which inevitably has more influence on traders. I would also remain on guard since the degree of volatility is comparatively higher today.

It’s a perfect scalpers’ paradise so, let’s enjoy it to the fullest extent possible. My yesterday’s 2nd support, 146.25 is intact and chances look good to test 150 and go beyond. I am not changing my supports and resistance and leaving them as they were yesterday.

GBPJPY M15–ChartsGBPJPY_M15-060509

My present supports and resistances – supports 147.35, 146.25, 145.38 & resistances 149.92, 151.75

For any guidance mail me at

Skype: sureba67 & Yahoo: psb67

Healthy And Wealthy Trading



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