Price has now fallen below the short term moving averages and many model players will now await a negative cross. The breakdown level was 135.80 and that should now prove to be a good short-term resistance level. Next support can be found at a series of former highs around 133.30. The target for bears will be the main trendline at 130.60 today, and this is bolstered below by the 100 and 200-day MAs.
-
EUR/JPY technicals: scope to fall to 130.60
June 16 2009, 12:38am | Comments »
-
Japan Q1 GDP revised to -3.8%
Q1 GDP revised to -3.8% q/q and -14.2% annualised. This was from a preliminary figure of -4% q/q and -15% annualised. JPY crosses are trading quietly.
June 11 2009, 3:32am | Comments »
-
Cross action likely to dominate
Cable and AUD/USD are exactly where we left them yesterday but the EUR and JPY have been hurt on the crosses. EUR/GBP was a big mover but as I’m not short already, I’m not going to start chasing it. I have some strong support coming at .8490 (technicals to follow). My feeling with EUR/USD is that after putting in a top at 1.4340, we have now put in another at 1.4145 and we should now trade lower over the next 10 days with an optimistic target at 1.35. Australian unemployment figures due out mid-morning. Good luck today.
June 11 2009, 12:02am | Comments »
-
Australia June consumer confidence index +12.7% to 100.1
This is the second largest result in the history of the WestPac/MI index and the biggest rise in 22 years. The AUD/USD has popped up to .8035 from .8010.
June 10 2009, 4:04am | Comments »
1