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Archive for August, 2006

Cable Crosses Test Resistance

GBP/JPY – GBPJPY continues to defy gravity as the pair shot up to 223.80 today.  A spike low for the week ending 6/19/1998 at 223.82 is resistance but a push higher targets the April 1998 high at 225.64.  The trend is certainly steep as is evidenced by the nearly vertical trendline from the 7/10 low [...]