Supports and Resistances for June 27, 2007

Hi all,
The crosses seem to be at the crossroads(!!) and they are still waiting for a direction so that they can move along in that. Yesterday was a topsy turvy day with the GJ and other crosses swinging wildly between their highs and lows. Today, it seems quiet so far as the crosses dont seem to know which direction they need to move. The best thing would be to wait and see the direction before entering. Of course, you could always trade the S and R.Below are the supports and resistances for the JPY crosses for today:-

USDJPY - Important support at 123.05. If that is broken, next support is at 122.85 which is a very strong support and the final major support is at 122.55. On the topside, the resistance is at 123.40 and then at 123.85.

EURJPY - Important support at 165.20. If that is broken, next support is at 164.65 and the final major support is at 164.10. On the topside, the resistance is at 166.65 and then at 166.25.

GBPJPY - Important support at 245.40. If that is broken, next support is at 244.70 and the final major support is at 244.05. On the topside, the resistance is at 246.15 and then a major resistance at 246.85.

Happy Trading !!!