GBPJPY analysis - next week magic numbers



h4 chart at market close
139.00 - support turned to resistance
133.00 - previous low that needs to be broken
the previous descending pattern is still valid as long as price stays below 139.00
the triangle height indicates the possible target projection
will the beast hit 112.00 - 115.00 by Feb 2009? :-?

excerpt from John J. Murphy Technical Analysis of the Financial Markets

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