Wednesday, September 16, 2009

USDJPY Analysis.
USDJPY stays below the falling trend line from 97.78 to 93.29 and remains in downtrend, and the rebound from 90.20 is more likely consolidation of downtrend. As long as the trend line resistance holds, we’d expect downtrend to resumed and deeper decline to 89.00 is still possible after consolidation. However, a clear break above the trend line resistance will indicate that the fall from 97.78 has completed.

GBPUSD Analysis.
GBPUSD broke below 1.6454 key support, suggesting that the short term uptrend form 1.6113 has completed at 1.6741 level already. Deeper decline is still possible later today and next target would be at 1.6250 zone. Near term resistance is at 1.6550, as long as this level holds, we’d expect downtrend to continue. However, above 1.6550 will take price to range trading between 1.6403 and 1.6741.

AUDUSD Analysis.
AUDUSD stays in a trading range between 0.8528 and 0.8674. Pullback to 0.8450 zone to reach next short term cycle bottom is possible later today. Initial resistance is at 0.8674, above this level will indicate that the uptrend from 0.8155 has resumed, then further rally could be seen to 0.8800 zone.

Written by

No comments: