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rufffen · 13-07-2006, 09:59

EUR/JPY Thursday update: Watching price action on 1hour charts, Im pretty confident that this item will dive to 145.40-145.60 anf from that point onwards will try for the highs around 147.20-147.40 and will fail to break it, Id say best idea is to wait for retest of recent highs and short that item from 147.00-147.60, since Id expect this to be the last retest of the highs before a continuous downtrend kicks in.

GBP/JPY: This item is overshooting to extremes, GBP/USD seems to be the main driver of WILD price action here, however once EUR/JPY starts to go SOUTH continously, this item will follow the suit.

Wont recommend any position on any items, waiting for EUR/JPY to drop and retest recent highs to short both items.

13-07-2006, 09:59	#27
rufffen Zone trading Join Date: Jun 2005 Posts: 1,057 Downloads: 2 Uploads: 0 Rep Power: 5	Re: EUR/JPY CYCLES UPDATE Part1 EUR/JPY Thursday update: Watching price action on 1hour charts, Im pretty confident that this item will dive to 145.40-145.60 anf from that point onwards will try for the highs around 147.20-147.40 and will fail to break it, Id say best idea is to wait for retest of recent highs and short that item from 147.00-147.60, since Id expect this to be the last retest of the highs before a continuous downtrend kicks in. GBP/JPY: This item is overshooting to extremes, GBP/USD seems to be the main driver of WILD price action here, however once EUR/JPY starts to go SOUTH continously, this item will follow the suit. Wont recommend any position on any items, waiting for EUR/JPY to drop and retest recent highs to short both items.