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Old 01-23-2009, 10:07 AM
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good morning all.

Yesterday was a pretty good day with all the Yen & Swiss pairs playing ball for a change.
This morning sees us looking to buy some Yen over any currency we like. Really is a lucky-dip at the moment.
My pick of the 3 we cover at present would have to be for a short USDJPY, which hasn't fallen too far through the support region.
IF I can get an entry at around 88.70 then I would take a small one with a stop abovee the pivot, which sits at 88.95.
GBPCHF is also looking good to the downside. A break of the WS2 level arounf 1.5830 could see this fall further so watch for that break.

GBPJPY-Missed this by a few hours and can't really touch it right now. Needs to break below 121.00 for continuation.

EURJPY-A Break of 114.00 is the level here for a downside play. Keep an eye on both USDJPY and EURUSD to confirm.

USDCHF-Pretty strong the last few days I wondr what's next here. Bit of a tricky one this session but a bounce off pivot and 60m 20ema at 1.1550 might see it higher. don't trade EURJPY and this pair in the same direction at the moment as they seem to be travelling in opposite direction quite a lot lately.

EURCHF-Still looks pretty weak from yesterday. Needs to break 14955 (60m 50sma) to give the green ligh, but with traffic below it's not one for the shortlist for me.

To Summarize. Let's look for potential shorts on GBPCHF & USDJPY


Have a great day.

Zak
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