Hi All,
Nice day yesterday with the crosses going all the way down and then back all the way up so that they ended the day where they began from. The crosses still seem undecided on which direction to take. The fundamental reasons still persist which want the market to go down while the technicals want the market to go up. This unclear situation should continue through and hopefully in about 2 weeks time , we should have a clear direction.
Below are the supports and resistances for the JPY crosses:-
USDJPY - Important support at 115.87. 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 116.42 and then at 116.68.
EURJPY - Important support at 157.71. If that is broken, next support is at 157.00 and the final major support is at 156.40. On the topside, the resistance is at 158.45 and then at 158.90.
GBPJPY - Important support at 233.45. If that is broken, next support is at 232.80 and the final major support is at 231.95.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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