Week 36 of 2010 (Aug 30 – Sep 03)

USDJPY

USDJPY seems to be moving in a very nice downward trend and it don’t seems to change during this week as well and we will be seeing traders interested in selling USDJPY on rise to retracement levels. The RSI is also nicely placed just above 35 and thus suggesting that it has more than enough space for a nice move. A god selling level can be seen around 85.85 level.

Week 33 of 2010 (Aug 09 – Aug 13)

GBPUSD

GBPUSD is moving nicely toward 1.6000 level but it seems that it might take a dip from that level and then take some retracement to gather some momentum to break 1.6000 level. Currently, the RSI also seems a bit higher and there are high chances that it will take a dip here. Traders will look to buy GBPUSD on dips around 1.5750 level for targets around 1.6000 level.

Week 32 of 2010 (Aug 02 – Aug 06)

GBPUSD

GBPUSD is moving nicely toward 1.5750 level but it seems that it might take a dip from that level and then take some retracement to gather some momentum to break 1.5750 level. Currently, the RSI also seems a bit higher and there are high chances that it will take a dip here. The other reason for the dip that seems is that a good resistance level is present around 1.5750 level.