Friday, January 27, 2012

Forex pairs to observe

Eur.jpy, Chf.Jpy and Gbp.Jpy

All 3 pairs are currently retracing further towards support levels. Gbp.Jpy had trouble breaking the back of the trend line of the daily and I anticipate a further retracement, it has the potential to come down towards the 120.25 area before continuing further north. Eur.jpy just missed its D target and is currently retracing as well, it might find support around 100.50 area before continuing towards the target of 102.37. Chf.Jpy reached its d target and is currently on a new swing. I would like to see this pair come down to 83.50 before its continuation towards the north.


We had this set up yesterday but the market decided to rally further north after some sideways movement. I am still waiting for this pair to come down to 1.3050 area before I consider buying in. Be very careful trading this pair tomorrow, the U.S has strong fundamentals coming out.


This pair experienced strong rally towards the north the last couple of days and is finally retracing on the higher time frames. This pair has the potential to come down to 76.50 area where support can be found. Ill be looking to buy this pair around there.

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