Jan 30 - Delta Update for GBP/USD and USD/JPY is ready

I have updated the Delta Position page for GBP/USD and USD/JPY, available at the navigation menu above.

For GBP/USD, we are now in both ITD and LTD Inversion Time Period, that's why price has not been trending well, and it's been contained in a range for a number of months now. However, it looks like we may get some solution about the direction soon, perhaps as soon as next month.

For USD/JPY, I am leaning towards a rally from here. How fast and how strong, or whether I am right or wrong remains to be seen, but I am in the bullish side for the moment.

This year I try to become more of a medium term positional swing trader (holding for weeks/.months) and looking for higher probability and higher reward setup. My focus in the first quarter of 2010 has been GBP/NZD and USD/JPY as I posted in the trade idea. As I am now already in the position for both, I would just monitor it until my time target is near and I may not post too much updates in the blog. GBP/NZD has rallied over 1000 pips since I posted the trade idea last time, and I am still holding it now while moving my stop loss. I have taken position in USD/JPY, and now will just wait and see what the market wants to do.