GBPJPY, morning 30 Nov 2010

comment: Not much to comment on. As the RSI is always being inbetween line50, i believe market is finding corrective wave.as if you still holding your sell position, consider to close some of them, as you might facing the moment where market is like playing on you..its only my theory based on above chart performance.

The minor bullish divergence

comment: Well today i just noticed that that minor bullish divergence (double bottom point) really made an impact. If we could see the RSI, it is persistent being on line 50 (sideways effect). It could be market performing minor retracement or major turning point, but preferebly minor retracement so that wave could continue down to complete the indication @ daily timeframe. (where smac-d is about to perform turning point).thru out the day, there isnt any overbought situation yet RSI persistent making sideways signal.Good signs for bearish side.

comment: it is a bit tricky this time when i was about to find the real top point. There are just too many false signal, bullish trap and other impacts pattern. Especially this type of divergence,it is really almost deviates it's nature when the pattern getting longer. Relief, its the RSI that confirm the turning point.
Anyway, im expecting price will getting down, target at least hit 130.33 @ fibo. retracement 61.8%.