EUR/JPY Analysis 09|20|2006 NEW YORK

NEW YORK

Pair Analyzed: EUR/JPY
Time Frame Used: 1D
Prevailing Sentiment: Neutral (sideline)
Platform: GFT DealBook 360 (new)
Date of Analysis: 09/20/2006

Trade Execution Ideas:
Execute as a Real position with an entry @ 148.05- and absolute exit @ 146.26. Targets for this trade can be configured @ T1 147.86, T2 147.61, T3 147.00. Stop loss can be configured @ 149.13. Please keep in mind that stop loss configurations should be executed as money management rules suggest.

Prevailing Signals:
Tenkan-Sen/Kijun-Sen Cross Bear,Senkou Span A/B Cross Bull,Price/Kijun-Sen Cross Bear,Chikou Span/Price Cross Bull

Supporting Technicals:

Chikou Span Support Considerations:
Support Level 1: 148.49
Support Level 2: 148,25

Chikou Span Resistance Considerations:
Resistance Level 1: 148.70
Resistance Level 2: 149.12

Kumo and Price Relationship:
Price is currently Over prevailing Kumo

Kumo Strength:
Moderate

Noteable Support and Resistance Considerations:
149.00 and 148.00 will provide psychological resistance. 149.13 (daily kijun-sen value) will also provide some resistance.

News Provided By:
n/a

Analyst Notes:
Like yesterday we are still mixed on the Daily. We have a bearish tenkan-sen/kijun-sen cross, and price is trading below the kijun-sen. On the bullish side, we are still trading above the kumo and the chikou span is above the price curve. In order to confirm a bearish outlook, price must close below 148.05 on the daily chart. If price can close above the kijun-sen at 149.13, however, a bullish scenario comes back in view.

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