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Based on the market trend for this particular currency pair (GBP/JPY), I’m predicting that GBP/JPY will be strong in Down Trend (DT) moves toward 223.xx within this week. But as the US Dollar currency will be strong in the couple of week later on. The GBP/JPY currency pair should move toward 219.xx within end of this year (2007) without much problem.
If GBP/JPY can break this 219.xx barrier, the currency can go lower than prediction (i.e between 215.xx or 214.xx). The DT moves on GBP/JPY will be predicted to stay within this range until at least by the first week of January 2008 and rebound can be see within the second week of January 2008. The rebound might moves in a small level which can generate at least not more than 500 pips per week.
For those forex trader with sufficient amount of capital should took this GBP/JPY pair for greater income. But please prepared to set your stop loss not more than 0.5 % of your trading value.
