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rufffen · 18-07-2006, 13:14

EUR/JPY update: This item is in strong RALLY mode, anything above 147.80 will see it trade at 153.00-154.00 near future. However, Im only looking to go SHORT on that pair, no setups as of now. Quite possible it could start the descent though, if EURO downtrend gets a good boost soon.

GBP/JPY: Crazy, that's what Ill call the action here, anthing above 216 will see this item trade at 219 near future. Might follow the EUR/JPY if CABLE accelerates in dowtrend. Will update possible setups, as soon as I spot a good trade.

USD/JPY: How does the YEN fair with dollar strength? This item looks like it will extend losses towards 119 mid-term, from that point onwards Id say it's a good idea to trade it SOUTH (short). Alternatively it could extend towards 122.80, but at this stage this is not very likely.

USDX: Mid-term will establish above 87 levels, will try to extend towards 88 and possible 89 areas, which in turn will be reflected in EURO/CABLE/YEN weakness mid-term.

18-07-2006, 13:14	#64
rufffen Zone trading Join Date: Jun 2005 Posts: 1,028 Downloads: 2 Uploads: 0 Rep Power: 5	Re: EUR/JPY CYCLES UPDATE Part1 EUR/JPY update: This item is in strong RALLY mode, anything above 147.80 will see it trade at 153.00-154.00 near future. However, Im only looking to go SHORT on that pair, no setups as of now. Quite possible it could start the descent though, if EURO downtrend gets a good boost soon. GBP/JPY: Crazy, that's what Ill call the action here, anthing above 216 will see this item trade at 219 near future. Might follow the EUR/JPY if CABLE accelerates in dowtrend. Will update possible setups, as soon as I spot a good trade. USD/JPY: How does the YEN fair with dollar strength? This item looks like it will extend losses towards 119 mid-term, from that point onwards Id say it's a good idea to trade it SOUTH (short). Alternatively it could extend towards 122.80, but at this stage this is not very likely. USDX: Mid-term will establish above 87 levels, will try to extend towards 88 and possible 89 areas, which in turn will be reflected in EURO/CABLE/YEN weakness mid-term.