Friday, October 24, 2008

forex GBP-JPY Technical Analysis

GBP-JPY pair is currently falling into an oversold position as shown by the black candlestick piercing the bottom band of the Bollinger indicator. Despite of this there will be no immediate reversal at this time just yet as long as the monthly stochastic still moving downwards. However once the reversal is starting to take place, it will be huge because of the oversold effect.

This pair the most volatile and dangerous pair for the novice traders because it can rip all your deposit in a sudden. Therefore please be warned that when you start to get addicted with the volatility movement you might regret it someday.

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