USDJPY - Weekly Strategy (25 Feb-01 Mar 2013)

Recommendations: Long positions above 92.21 with 94.45 & 97.70 as next targets.
Alternative scenario: The downside breakout of 92.21 will call for a rebound to 90.32 levels.
Description: The daily close above 92.88 levels, opens the way towards 97.77/99.56 levels,looking to the 4 hour chart, the pair finds bid at 92.21 levels, this scenario suggests further gains towards 97.77 and 99.56 levels, only a 4 hour close below 92.21 will delay the bullish move and reverse risks to the downside towards 90.32, If seen this level should contain the downside and bring another rally ,but If 90.32 fails , expect a free fall towards 85.00 levels. 


Best Regards


Views: 627

Comment by Oasis on February 23, 2013 at 6:33pm

Hello Haitham

I am very keen to hear your thoughts on GBPJPY in view of the falling GBP.


Comment by Haitham653 on February 23, 2013 at 7:05pm

Hello Oasis ..

GBPJPY is under pressure after losing the key support 142.74 - 15 Feb 2013 low - the daily close -GMT- below this level opens the way towards 139.42 where strong rebound is expected, but If 139.42 fails, expect more loses towards 135.00 levels.On the upside , a daily close back above 142.74 will retest 147.90, above 147.90 will target 150.00/153.00 levels ..

Thanks for your comment..

Comment by Haitham653 on February 23, 2013 at 7:22pm

GBPUSD finds bid on the daily chart at 1.5130, according to daily chart next target is at 1.5600 levels,only a daily close below 1.5130 will bring strong bearish momentum towards 1.5000/1.4800 levels..

Resistance is at 1.5460,1.5550,1.5630(main).1.5803(main)..

Support is at 1.5130, below this level expect a free fall..(300/500) pips.. 

Comment by Oasis on February 23, 2013 at 10:53pm

Thanks Haitham.  I hope that your expected bounce in GU will result in up move in GY as well.


Comment by Yasser on February 24, 2013 at 3:49am

Hi Haitham any thoughts on Aussie dollar. Thanks


Comment by Haitham653 on February 24, 2013 at 4:38pm

AUDUSD, finds support at 1.0220 ,  as long as the daily close is above this level , more consolidative trading with bullish bias is suggest for retesting 1.0444 and 1.0547 levels, a daily close below 1.0220 will reverse risks to the downside and extend the pullback from 1.0598 towards 1.0235/1.0150 levels. 

Comment by Haitham653 on February 24, 2013 at 5:30pm

EURJPY finds support at 122.25, as long as this level holds , rebound to 125.00 and 127.70 is suggested , only a 4 hour close below 122.25 will open the way  towards 121.20/117.85 levels.


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