FOREX Trade Alert for – Symbol  GBP/JPY.

FOREX Trade Alert for GBP/JPY Thursday Feb 12, 2009 On Feb-12-2009 a candlestick formation confirmed a sell signal. A sell signal was also confirmed when this Pair closed below 132.03 on Feb-10-2009. 4xGenie Action: Sell GBP/JPY @ 128.78. Stop at 137.31. Wave 5 could drop down to 125.30 or to 118.83. Today’s candlestick appears in the yellow shaded area of the chart. This reflects strong consolidation here! Next Day Trading Ranges for Thursday Feb 12, 2009. The 20 day moving average of the daily trading range is 436 Pips and the 60 day moving average of the daily trading range is 390 Pips. This shows that volatility has increased in the short term. The percentage of downdays when the open/high ratio is less than 25% is 78.34 percent. This means that if this Currency Pair does not rise more than 109 Pips from the opening price then there is a 78.34 percent chance that this will be an downday. The [R3] or the most extreme high trading range is 131.0110. The [R2] or the extreme high trading range is 130.6040. The [R1] or the high trading range is 129.9290. The [P] or pivot point is 129.5220. The [S1] or the low trading range is 128.8470. The [S2] or the extreme low trading range is 128.4400. The [S3] or the most extreme low trading range is 127.7650. Next Day Alternate Stops for Thursday Feb 12, 2009. The red line to the right on your chart is an extreme support or resistence level for the next trading day. A good alternative stop is one which is placed just beyond this extreme support/resistance level. In this particular case if the price rises above 130.60 then that would show momentum against 4xGenie‘s short position and that would be a break out to the upside. Please Note: These support/resistance levels are calculated by using the previous day’s trading range. Normal volatility may cause a breakout of this value once every 4 or 5 days when prices consolidate. Alternate stop: 129.52 Current Day Trading Session: New momentum to the downside has just started. Next Day Trading Session: If the next day’s close is above 133.27 then that could be a sign that the current downward momentum is reversing. 4xGenie Support Team

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