Supports and Resistances for July 13, 2007

Hi all,
Nice ranging day on all the crosses yesterday. It is not only the trending days, the ranging days can also make you a lot of money. The crosses stayed well within the S and R and it was easy and interesting trading that. I have expanded my range of trading to include all the JPY crosses (AUD,NZD,CAD) rather than just the GJ, EJ and the UJ. This provides with a lot more choice and a lot more trades. As for today, nothing major should affect the crosses and i feel that they will continue to range today. GU looks very weak and this will be a drag on GJ which will in turn be a drag on EJ. Thats what i feel, lets see though..
Below are the supports and resistances for the JPY crosses for today:-

USDJPY - Important support at 121.88. If that is broken, next support is at 121.40 which is a very strong support and the final major support is at 121.10. On the topside, the resistance is at 122.66 and then at 123.40.

EURJPY - Important support at 168.75. If that is broken, next support is at 168.45 and the final major support is at 167.95. On the topside, the resistance is at 168.95 and then at 169.40.

GBPJPY - Important support at 248.45. If that is broken, next support is at 247.55 and the final major support is at 247.08. On the topside, the resistance is at 249.03 and then a major resistance at 249.70.

Happy Trading !!!