USDJPY.Our profit target at 106.03 has been reached on thursday 04/09/08 for total of 205 pips profit. The price has spiked down and protruded the 61.8% fibonacci retracement level and the closed above the level on that day. The following day price move up and closed above the 50 % fibonacci retracement level. That would give us an early indication that the price would move north. However, since our profit target has been reached and that there is no other signal to enter the market, we would lay low until we have a clear picture of the market.
EURUSD.The market is still moving south and there is no clear signal for us to enter the market. But a point to ponder, there's look like a doji candle for friday which would indicate that the movement of the price has lost its fuel and would turn the trend upside next week. We would watch closely for this currency.
* This analysis is only meant for Pipkeeper and not for public usage.
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