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Short Term Analysis – June 19, 2007

20070619_usdjpy_1.gifUSDJPY
USDJPY is in up trend, the rise from 120.76 extended to as high as 123.75, further rise towards 124.00 to reach the next cycle top on 4 hours chart is still possible later today. However, the next cycle top is nearing, and pullback towards 123.00 can be seen immediately. Key support is at 1.2325, a break below this level will confirm the cycle top.

20070619_usdchf_1.gifUSDCHF
USDCHF is in consolidation to the up trend. It will move without trend in a range between 1.2372 and 1.2467 in a couple of days. Near term support is at 1.2372 level, and key resistance is at 1.2467, a break above 1.2467 level will signal the resumption of the up trend.

20070619_usdcad_1.gifUSDCAD
USDCAD broke above 1.0737 previous high, further rise to1.0785 level to reach the next cycle top on 4 hours chart is expected to follow. Key support is now at 1.0603, a break below this level will signal the resumption of the down trend.

20070619_eurusd_1.gifEURUSD
EURUSD is in down trend, the rise from 1.3263 is treated as correction to the down trend. Fall below 1.3263 previous low is still possible after correction. Near term support is at 1.3350, break below this level will signal the resumption of the down trend.

20070619_gbpusd_1.gifGBPUSD
GBPUSD is in correction to the down trend. Fall below 1.9622 previous low is still possible after correction. Near term support at 1.9750, a break below this level will signal the resumption of the down trend.

20070619_audusd_1.gifAUDUSD
AUDUSD bottomed at 0.8333, further rise above 0.8476 previous high can be seen after a slightly correction. Near term support is at 0.8395, and key support is at 0.8333, only break below the key support will signal the reversal to the up trend.

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