Andrei Pehar, Sr. Currency Strategist, fxKnight.com
Known as the "Black Knight" in trading circles, Andrei is a private fund manager, consultant to management, and a sought-after speaker, trainer, and coach for professional traders and individual investors alike. He played in professional chess tournaments at a young age, earning a rating in the U.S. Chess Federation, and went on to further hone his strategic skills by studying Japanese martial arts, bringing with him a unique perspective to the financial markets.
His client list includes prestigious names such as UBS, Tower Asset Management (named by Bloomberg as top asset manager), Clifford Associates (investment counselors since 1915, officially acknowledged as the oldest in the United States), and several other high profile firms specializing in investment and wealth management for musical artists, sports celebrities, and other ultra high net worth individuals and trusts. He is currently working on a book which will, for the first time, introduce retail traders to institutional trading strategies and techniques.
Click Here to view videos by fxKnight
Known as the "Black Knight" in trading circles, Andrei is a private fund manager, consultant to management, and a sought-after speaker, trainer, and coach for professional traders and individual investors alike. He played in professional chess tournaments at a young age, earning a rating in the U.S. Chess Federation, and went on to further hone his strategic skills by studying Japanese martial arts, bringing with him a unique perspective to the financial markets.
His client list includes prestigious names such as UBS, Tower Asset Management (named by Bloomberg as top asset manager), Clifford Associates (investment counselors since 1915, officially acknowledged as the oldest in the United States), and several other high profile firms specializing in investment and wealth management for musical artists, sports celebrities, and other ultra high net worth individuals and trusts. He is currently working on a book which will, for the first time, introduce retail traders to institutional trading strategies and techniques.
Click Here to view videos by fxKnight
Projected Bottom for the GBP/JPY
Posted 09-10-2008 at 04:21 PM by fxKnight.com
Projected Bottom for the GBP/JPY
After hitting last month's targets and a brief retracement back up to test the 200 moving average as resistance, the GBP/JPY has resumed its downward movement.
Where will the unwind of the carry trade eventually leave us?
Our current projection, based upon a 38.2% Fibonacci retracement, is at 178.71, with price likely to encounter support along the way at 188.82 and 184.32
197.84 will likely act as resistance, capping off any surprise moves to the upside.
After hitting last month's targets and a brief retracement back up to test the 200 moving average as resistance, the GBP/JPY has resumed its downward movement.
Where will the unwind of the carry trade eventually leave us?
Our current projection, based upon a 38.2% Fibonacci retracement, is at 178.71, with price likely to encounter support along the way at 188.82 and 184.32
197.84 will likely act as resistance, capping off any surprise moves to the upside.
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