Hi All,
Yesterday was a ranging day for the crosses. All the crosses moved within very tight ranges which provided very little opportunity for the swing traders. Only those who are good at scalping, the very few of them, could have had a profitable day yesterday. With a ranging day yesterday, it makes today very interesting as there should be a breakout in either direction today and if it comes, it should be quite strong. With some important news to be realeased today, it should be quite interesting. Lets watch out.Below are the supports and resistances for the JPY crosses for today :-
USDJPY - Important support at 115.85. If that is broken, next support is at 115.60 which is a very strong support and the final major support is at 115.43. On the topside, the resistance is at 116.0 and then at 116.40.
EURJPY - Important support at 157.81. If that is broken, next support is at 157.41 and the final major support is at 156.95. On the topside, the resistance is at 158.10 and then at 158.60.
GBPJPY - Important support at 233.70. If that is broken, next support is at 232.90 and the final major support is at 232.20.On the topside, the resistance is at 234.40 and then a major resistance at 235.02.
If you want to join my trading group/managed accounts, pls mail me at kartram.77@gmail.com
Happy Trading!!!
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