The pair has built a local bottom at 1.5283 and has advanced well beyond 1.5571. Technical indicators are reversed and divergent. The 50- day SMA is currently projected at 1.5631.
Аs expected the pair broke through the 1.5684 resistance and reached an intraday high at 1.5814. A corrective construction is expected to challenge 1.5728 once again from the upside and a renewing of the upward trend to follow, aiming at 1.5961. For today expect a bottom to be build around 1.5729. Today's strategy: Buy on a break above 1.5814 wit a rsik limit below intraday low and a target at 1.5921.
resistance
support
intraday
intraweek
1.5814
1.5961
1.5961
1.60-sentiment
intraday
intraweek
1.5521
1.50
1.5283
1.4467
USD/JPY
Daily Analysis
22 May2008 Current level - 103.14 The pair is in a corrective uptrend from the 95.75 short-term bottom. Technical indicators are rising slowly and the upmove is dynamically supported at 102.36. The inner structure of the rise is by all means a corrective one, so from a larger point of view the overall downtrend from 124.14 is not over yet.
Our target at 102.76 has been met and it looks like the pair has set a local bottom just below that level, at 102.73. We will expect to see some rebound to 103.70-85 before renewing the sell for a break below 102.68. Today' strategy:Stand aside.
resistance
support
intraday
intraweek
105.68
106.31
105.93
108.31
intraday
intraweek
102.68
100.82
101.92
95.75
GBP/USD
Daily Analysis
22 May2008 Current level- 1.9721
The downtrend from the 2.0397 local top is still intact and has reached a low at 1.9374. Technical indicators are reversed on the 4 h. chart and the trading is situated below the 50- and 200-day SMA, currently projected at 1.9819 and 2.0044.
It is a little bit early to be positive if the dynamic resistance from 2.0397 and 2.0021 is already broken, but we favour the idea, that the pair will accelerate its uptrend towards 1.9901 and 1.9963 later today. Today's strategy : Buy on a break above 1.9759 with a risk limit below intraday's low and target at 1.9901.
resistance
support
intraday
intraweek
1.9745
1.9961
1.9831
2.0192
intraday
intraweek
1.9625
1.9338
1.9338
1.9196
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