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 Daily Forecast for Crosses: June 24

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john

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PostSubject: Daily Forecast for Crosses: June 24   Fri Jun 24, 2011 12:28 pm

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<blockquote class="postcontent restore ">
Daily Forecast for Crosses: June 24
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EURJPY Forecast
The EURJPY was volatile but indecisive yesterday. Price attempted to
push lower bottomed at 113.80 but found a good intraday support around
the minor trend line support (red) as you can see on my h4 chart below
and closed higher at 114.78. The bias remains neutral in nearest term.
Overall my technical outlook remains to the downside but as long as
113.40 key support hold price is still in a consolidation phase.
Immediate resistance at 115.00. A clear break above that area could
trigger further bullish pullback testing 115.80 – 116.00 resistance
area. Immediate support at 114.50. A clear break back below that area
could trigger further bearish attempt testing 114.00 – 113.40.



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