Take a look at this chart...

A nice channel has formed on this pair. It looks like it's over extended, and perhaps we will see a retrace to the bottom of the channel in the near future.

...and here are the same fibs on a smaller time frame. you can actually see the price retraced to the .50 level. Good luck!

...and this one "updown", gives you a pretty good idea on trend changes, etc.

This one's called "pivot res/sup", it usually serves as good resistance support, and can also be used to trade breakouts.

And another one that plots support/resistance.. Its called "test last 100"

Here's the chart with the indicator.

I like to look at daily candlesticks signalling reversals after extended moves. Even better if they are combined with some sort of support/resistance levels, trendlines, etc. hammers, hanging men, shooting and evening stars, engulfing patterns, dark ...

Watch out for a retracemnt to the upside coming up. Look at the doji on the 4hour chart. Also there seems to be strong support at around 224. Good luck

Watch for the break of this channel. In metatrader, you can create it yourself, it's called equidistant channel. There seem to be some support areas at 225.80 and 225.00. Below that.... 221.00 Good luck!

Heres a chart of usdjpy, as you can see it reached the .50 fib level, as well as a resistance line. It should be interesting to see what happens at this point. Gbpjpy will surely follow.

Im watching these levels intraday. We can expect to see some action around them. As Monk just mentioned, 228.20 is in play right now. It looks like it held the first attempt.

It's sitting at an old resistance right now at 228.20, if it breaks that it should be able to go to the bottom of my blue channel. But you never really know.

Looks like we may see some resolution in the upcoming weeks as far as this pair is concerned. Either a new high above the resistance line, or break of the trendline which has held pretty well recently. Against further upward action is the fact that ...

Here are the levels that should be in play this week. Watch for price action around 228.80, 231.00, 232.50. Those could be potential reversal levels. On the chart, red thick lines are resistance areas, yellow fibs are from the move 241 to 220, and ...

Notice the confluence of the resistance level of 228.60-80 and the .38 fib. This is an important point, and we may either see a sharp retrace, or in case it is broken, further upside action will follow. On the other hand, we could see a week of ...

the chart

And here's the infamous range that is containing all the recent action so far. We should watch this closely, as a breakout to either side can give us clues as to the medium term direction of this pair. There's some strong resistance at 1.9450 level, ...

On the weekly, a hammer has just formed, following the bounce from 1.9200. That's contrarian to the monthly bearish outlook, and this level will need to be broken to see further selling of this pair. Therefore, we could see some move up before ...