Monday, June 22, 2009

USD and JPY. Will they float?

I haven’t had time for a proper market analysis last weekend. I had problems with one of my websites and had to spend the whole day from 8am to past midnight, for 2 whole days, just to fix the problems. No more exercise time. And to top that up, I still need to finish my C++ assignment: creating a soccer simulation. Aarghh.

But a brief look at the Forex market saw potential U-turns for United States Dollars and Japanese Yen. Both currencies were going down and for the past few weeks, they look like they are going to reverse, but then they went back down. But last week, if they were indeed to go down, they should have dropped, but they held steadily against other major currencies and did not break supports/resistance. For example, GBPJPY seem to be forming head and shoulders. AUDUSD formed double tops and could be going for head and shoulders too.

Are those economies healing? We all just have to wait and find out.

• Posted by josh at 11:00:45 in My Trading
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