Week 23 0f 2010 (Jun 01 - Jun 05)

USDJPY (91.05)

USDJPY is moving in a nice gradual downward trend and this trend seems to continue in coming weeks. Currently USDJPY seems to be taking retracement and this will allow long term traders to sell USDJPY for dip towards 89.00 level. RSI also seems fine so anything around 91.25 seems a good sell at the moment. Initial targets can be seen around 89.50 level and then gradually towards 88.50 level. Break of 88.50 will open up 86.00 level as next target for USDJPY.

WEEKLY CHART:

Week 21 0f 2010 (Apr 05 – Apr 09)

EURUSD

EURUSD is taking continuous dip and the momentum seems to stay but the only thing that seems to stop this at the moment is the low RSI value and it might push EURUSD towards 1.2600 region and this will provide some really good selling opportunities for the trades looking to sell EURUSD again. The retracement can extend as much as above 1.3000 level but again long term traders will keep selling around that level to target EURUSD below 1.2500 level.

WEEKLY CHART:

Week 19 of 2010 (May 03 - May 07)

EURUSD is moving smoothly in a nice downward trend and it seems that we might be seeing EURUSD touching 1.3000 level during this week. Traders will currently be hoping to get EURUSD around 1.3400 level for a nice dip towards 1.3100 level. 

Since EURUSD took a good retracement by the end of last week so we expect that EURUSD might look to take a dip and then take some retrace and in that case conservative traders might not get the trade but the aggressive traders might benefit from that.