Forex Trade Alert for  GBP/JPY UPDATE.

FOREX OUTLOOK FOR CURRENCY PAIR GBP/JPY.

<Forex Trade Alert for Wednesday Jul 02, 2008>

There has been no signal to enter the market at this time.  Today’s candlestick appears in the yellow shaded area of the chart. This reflects strong consolidation here!

Important Notice:

When trading it is important to know your risks. If you have only been trading for a short time it is highly recommended that you start with a demo account first. Forex trading is highly risky and normally it takes 3 - 5 years to become a successful forex trader. Only risk that which you can easily afford to lose. Forex trading is not a get rich quick scheme, but if managed carefully, it is an excellent investment.

REMEMBER: NEWS OVERRIDES TECHNICAL ANALYSES !!!!!!!!

http://www.4xgenie.com/News_Charts.html

Next Day Trading Ranges for Wednesday Jul 02, 2008.

The 20 day moving average of the daily trading range is 185 Pips and the 60 day moving average of the daily trading range is 233 pips. This shows that volatility has decreased in the short term. The percentage of updays when the open/low ratio is less than 25% is 48.97 percent. This means that if this currency pair GBP/JPY does not drop more than 46 Pips from the opening price then there is a 48.97 percent chance that this will be an upday.

Monthly Pivots

The [R3] or the most extreme high trading range is 213.00.

The [R2] or the extreme high trading range is 212.54.

The [R1] or the  high trading range is 211.75.

The [P] or pivot point is 211.29.

The [S1] or the low trading range is 210.50.

The [S2] or the extreme low trading range is 210.04.

The [S3] or the most extreme low trading range is 209.25.

Next Day Alternate Stops for Wednesday Jul 02, 2008.

ForexGenie is not currently in a trade.

Current Day Trading Session:

No signs of upward momentum at this time.

Next Day Trading Session:

If the next day’s close is above    212.49 then that could be a sign that new upward momentum is beginning.