Wednesday, 17 February 2010

Yen and crosses

Usd/Jpy held at first touch res line  at  90.73  BROKEN watch  for  price to begin to top or pop. A break of res will target 90.92 ACHIEVED then previous highs at 91.25.












Yen crosses also now approaching their respective channel res.

Aud/Jpy - 61.8 fib channel res and previous highs at 82.35 area, stoch & rsi  in overbought area.
Looking for a short when price action confirms.
 

Eur/Jpy -  Channel res approaching at 125.00. Indicators are still bullish, but watching stoch for possible  turn. Aud/Jpy has led this move thus I will take  my lead from that.



Gbp/Jpy -  Looking much stronger than the other two, with 4 hrly cross and close above the  100/90 ema  bands a  bullish sign. Will  watch  the channel res BROKEN , with a break targetting  the  50 fib  and  220 lwma. Indicators are also supporting the bullish outlook , but I will be  watching for a  failure at the ma  with indicators turning over for  a short trade.




1 comment:

Anonymous said...

Good reading man, loud and clear!!

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