Week 9 0f 2010 (Mar 01 – Mar 05)

USDJPY

USDJPY seems to have resume its downward trend and it seems that it has gathered momentum and this momentum will continue in coming weeks. Currently USDJPY is looking to head towards 87.40 level and once it managed to break that level, USDJPY will be looking to aim 85.50 next. RSI in weekly charts is just above 43 and seems to have enough to support a good and extended dip by USDJPY.

This week traders will look to sell USDJPY for anything above 90.00 level and if the upward move is extended then another good selling level can be seen at 91.30

Week 8 0f 2010 (Feb 22 – Feb 26)

USDJPY

The current technical studies suggest that USDJPY is looking to take a dip in weekly charts after touching and important level at 91.70 and we might see USDJPY just holding up around 91.00 level a bit and then resume downward trend. Break of 91.00 level will set 90.15 as next target for this week and we might see USDJPY touching that level.

Week 7 0f 2010 (Feb 15 – Feb 19)

EURUSD

EURUSD is moving in a nice downward trend. Although it is getting a bit over-sold but it is also taking decent retracement to create enough space to continue its trend. Currently it has a very good selling level present around 1.3730 and selling anything around that level seems a good option for target around 1.3430 level. RSI is still on lower side but have enough space for EURUSD to make a move towards 1.3430 level.

Week 6 0f 2010 (Feb 08 – Feb 12)

USDJPY

USDJPY is moving in a very good downward trend and initial target is at 88.50 level, break of which will set 86.00 as next target for USDJPY. A good selling level can be seen just around 89.90 level for a nice downward move. The same pattern can be seen in daily charts so we might also see Intra-day traders selling USDJPY on retracement throughout this week.

Week 5 0f 2010 (Feb 01 – Feb 05)

GBPUSD

GBPUSD is gradually moving towards it weekly target at 1.5800 and it seems that this week it will get there easily. We might see GBPUSD extending its dip to 1.5750 level and then GBPUSD might take some retracement towards 1.6000 level.

Before its dip, we might see GBPUSD going upwards to 1.6120 and if GBPUSD breaks that level, then we might see GBPUSD heading towards 1.6250 but most like it will resume its downwards trend from 1.6120 level.