Thursday, January 18, 2007

Forex analysis

Hello Traders,

JPY - very very weak after BOJ, strong sell-off

USD-JPY - as i wrote earlier, while above 119,80 we should see 121,40 - DONE
roumors about large option expiry today at 122,00

GBP-JPY - as i wrote earlier bullish above 236,..., 240 touched, now some profit taking be carefull

EUR-USD - still below 1,3000 level, so bigger chances for move-back twds 1,29 and lower
Strategy: Holding short from 1,2950-55 level with tight sl just above 1,2975

GBP - looks strong ( as i Wrote yesterday, close above 1,9705 bullish ) possible target today near 1,9800-20, look to buy on strong move down

GBP-CHF - strong rise above 2,4650, some profit-taking possible soon
EUR - still below 1,3000, so still chances for move below 1,2900 today
Holding short position from 1,2950 with tigh sl ( just above 1,2975 )

Good Luck
Piotr

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