|USD-JPY @ 92.23/27...Support in broad 92.10-91.70 region|
|R: 92.50 / 93.00-20 / 93.50|
S: 92.10 / 91.70 / 91.20-00
Dollar-Yen fell sharply on Friday breaking below 93 and is now continuing to trade lower. Immediate Support is seen in the broad 92.10-91.70 region. If it continues to trade lower, a break below 91.70 might increase the chances of further dip towards 91.00-90.50 in the coming days. On the other hand if the immediate Support at 92.10 holds and the pair gains upside momentum, a strong break above 92.50 might see a rise towards 93.00-20.
|EUR-JPY @ 133.80/85...May rise further|
|R: 134.73 / 135.17 / 137.19|
S: 133.50 / 133.02 / 132.65
The Cross has risen sharply after falling towards 132.41 after the US NFP data release on Friday. We had mentioned a fall towards 132.20 may be likely on Friday. It faces stiff Resistance near 134. Once broken, it may rise towards 135 and even higher thereafter. The Projected Max High and Low for the day is at 135.17 and 132.14 respectively.
Overall, the Cross has been oscillating between 127 and 139 since the April of last year. It could possibly be allowing the 100-week MA (140.16) to catch up before deciding on which course to take. This could possibly happen over some weeks. As of now, the pair may continue to be in the range and having begun the upmove from a long term Support near 127, it may continue to move further up towards the upper end of the broader range of 127-139.
|AUD-USD @ 0.9306/09...Bullish|
|R: 0.9330 / 0.9410 / 0.9486|
S: 0.9220 / 0.9180 / 0.9120-00
Aussie has risen as expected and is now trading just above 0.9300. The uptrend is intact and if it continues to trade above 0.9300, we might see it testing the previous high of 0.9405 (16-Nov-09) in the coming sessions/days. Any sharp downmove is not looking likely. Support is seen in 0.9200-0.9180 region which we expect to hold if any sharp downmove below 0.9300 is seen during the day.
Limit Buy Order:
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