EUR

I respect your expertise but will stick with my own methodology. Long if mkt tells me long and short if mkt tells me short.

davidO haha..that guy must be v poor now...I c 80-81 as defence area for yen. IMO jpanese export can handle 80 at v most but if yen keep getting strong then will be problems. anyway I am look for long entry in this pair near low 81s or high 80s.

Gamma, neither subway nor myself are "predicting". We work our logical levels which tell us which way to trade ! Furthermore jpy intervention has not been very effective. I know one prominent guru who is still long as far as I know from 85 on the basis of intervention to defend that level.

DavidO & Subway I am v sorry but i do not thinkk that usdjpy will brek 80...U see BoJ will intefere in mkt and this threat is on trader mind. With bad e/quake u will c yen get strong, but mkt nowday have v short memory and forget. Only few day ago Libya and midle east was on mkt mind now all forgot

Its interesting how different analysis techniques often coincide to give similar answers. No doubt at all that channels and trend lines are of great value and I need to study further so will be interesting if ashraf enables our charts, although that will be a two edge sword which will inevitably consume much time :-)

The shorter trend lines recently for eurgbp daily chart have kept me on the right side of the trade contra to Ashraf's bearish take. I am not interested in riding out 400 pip drawdowns relying on perceived fundamentals not deviating.