Supports and Resistances on June 19, 2007

Well well...what can i say..All the crosses seem to be running like crazy horses and there seems to be no stopping any of them. Why have they suddenly started running like this? No one knows. When are they going to stop? My charts say that not anytime soon. Too bad for those who missed getting on this train. Since we do not know when it is going to stop, it would be dangerous to get on to it at these levels and it also looks bad to be at the sidelines when they are going up like this. But thats is trading. There is always another day. All we can do is wait.Below are the supports and resistances for the JPY crosses for today:-

USDJPY - Important support at 123.55. If that is broken, next support is at 123.40 which is a very strong support and the final major support is at 123.05. On the topside, the resistance is at 123.70 and then at 123.90.

EURJPY - Important support at 165.65. If that is broken, next support is at 165.15 and the final major support is at 164.90. On the topside, the resistance is at 166.02 and then at 166.25.

GBPJPY - Important support at 244.90. If that is broken, next support is at 244.45 and the final major support is at 243.80. On the topside, the resistance is at 245.50 and then a major resistance at 246.00.

Happy Trading !!!