Technically GBP/JPY

Monthly

From 2003 on the monthly chart the pair has climbed from the 185.00 to the 250.00 level but in June of 2007 we have had an abrupt turn-around. In the last 7 months has come down FAST and recently bounced off 206.54 (the 61.8% Fibonacci retrace of the move up).

Oscillator features:

-	MACD crossing down over the waterline expanding with good angle and separation.
-	Slow Stochastic crossed down with expanding angle and separation just edging into oversold territory.

 

Monthly Fib Resistance	50%	215.29
	38.2%	223.66
Monthly Fib Support	61.8%	206.77
	76.4%	196.30
	100.0%	179.42