EUR/USD Continues to March, USD/JPY Swings Continue
Currencies / Forex Trading Jun 03, 2009 - 05:03 AM GMT
A pair has just pulled off the highs in the early Tokyo session, but the trend is still up and the bias is still up.
Some support should be found at 1.4250 as well as 1.4200 where a short term trend line currently rests.
A late December 08 peak is in range at 1.4360. This level is likely to be tested today if the pair does not continue to fall off yesterday’s highs. A further profit target on the upside is 1.4410 and 1.4450.
USD/JPY Swings Continue
The see-saw action continues as market continues in its choppy range. A solid break of that daily range is not expected today.
A break below 95.35 would target 95.00 and beyond 94.60.
A push above 95.90 would target 96.20. A move above 96.20 would likely be stalled at 96.60 and beyond that 97.00.
Analysis by: http://www.Forexpros.com - Written by Cory Mitchell
Forexpros offers the most definitive Forex portal on the web. It contains industry leading market analysis, up-to-the minute news and advanced trading
tools which provides brokers, traders and everyone involved in the financial market with an all-round guide to Forex.
Copyright © 2009 by ForexPros.com All rights reserved.
Disclaimer: Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.
ForexPros Archive |
© 2005-2022 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.