Forex view

Hello Traders,

This is a part of my yesterdays raport which was sent to my email-readers:

EUR-USD
Another test 1,3160-80, support start near 1,3120 then 1,3080 ahed of 1,3025, key 1,2980.
Bulls need to move above resistance , next target 1,3225.
Startegy: Consolidation possible, wait for US data nad Bernankie, or buy above resistance for short trade

GBP-USD
1,9460 was tested again today, need to move above for 1,9500-50, failure break could push pair lower, after this double top formation possible
Strategy: Consolidation possible, wait for US data nad Bernankie, or buy above resistance for short trade

USD-CHF
Support near 1,2020, risk for bounce twds 1,2150-60.
Strategy: Look to sell on rally


USD-JPY-
Support today 115,35-45, could be important, if will be broken next target 114,45 ( 50% of May to Oct rally ) then 113,35 – SHS pattern break last week. Resistance 116,30 then 100DMA at 117,10

EUR/JPY – 153,04 should be strong resistance, while below this level we could see some consolidation ahed of next move twds 154,00. Support near 151,20.
Strategy: buy on any dip

GBP-JPY
Multiyear high above 206 level, support now at 205,25-30.
Strategy: buy on dip with sl below support



JAPAN: Senior Govt Official Yoshimi Watanabe reported saying,
- Economic conditions not yet ready for BOJ rate hike
- BOJ rate hike would drag down economic growth when uncertainty
already rising
- Expects BOJ to work with government in conducting monetary policy.

Good Luck Good Trade
Piotr

p.s.
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