Supports and Resistances for June 25, 2007

Hi all,
So a new and very interesting week has begun. Lets see how things go. Over the weekends, there were comments by many experts about how there were signals on Friday about flight from risks, risk aversion etc. Moreover, there were also scathing comments against carry trades and in favor of yen from BIS in the Central Bankers meet at Basel. All this should have led to a big drop in the crosses but so far, there does not seem to be any effect and the cross train just seems to be chugging along. Lets see how the day and the next couple of days pan out. Should be very interesting.Below are the supports and resistances for the JPY crosses for today:-

USDJPY - Important support at 123.82. If that is broken, next support is at 123.64 which is a very strong support and the final major support is at 123.44. On the topside, the resistance is at 123.93 and then at 124.05.

EURJPY - Important support at 166.50. If that is broken, next support is at 166.03 and the final major support is at 165.60. On the topside, the resistance is at 166.98 and then at 167.42.

GBPJPY - Important support at 247.45. If that is broken, next support is at 246.85 and the final major support is at 246.02. On the topside, the resistance is at 247.91 and then a major resistance at 248.50.

Happy Trading !!!