USDJPY is looking to set itself up for another move towards 87.00 level but we might see some retracement by USDJPY before that. Traders will look to sell USDJPY on rising to 89.80 level for initial target at 88.60 level.
Recommended Trade Levels
Trade: Sell USDJPY @ 89.80
Stop: 90.30
Profit Target 1: 88.60
Profit Target 2: 87.50
Thursday, January 22, 2009
EURUSD (1.2986)
EURUSD is looking to continue its momentum and break below 1.2800 level. Traders will look to sell EURUSD around 1.3060 level for initial target at 1.2860 level.
Recommended Trade Levels
Trade: Sell EURUSD @ 1.3060
Stop: 1.3110
Profit Target 1: 1.2860
Profit Target 2: 1.2760
Recommended Trade Levels
Trade: Sell EURUSD @ 1.3060
Stop: 1.3110
Profit Target 1: 1.2860
Profit Target 2: 1.2760
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