Today many of the pairs I follow saw a strong resumption of the major trend after experiencing a bit of a correction the past week or so.  I'm looking at GBP/JPY in particular, which bounced nicely off of the rising trendline.  The daily chart is shown below.

I'm going to jump into a long position in this pair and see if the prevailing trend continues to carry us up.  There's a bit of overhead resistance where a double top has formed, so I'll be watching carefully around that price level to see how the pair reacts.

• Long Entry:  147.505
• Initial Stoploss:  142.75 

On another note, I closed half of my EUR/AUD short earlier this month at 1R, but the second half is still open.  Today's thrust downward is an encouraging sign that that pair's move down may not be over yet.