USDJPY setting itself for a dip towards 89.30

USDJPY: (90.21)

USDJPY is setting itself for a very nice dip. Although it did took some dips and recovered back during last few days but still it seems to set itself up for a very nice dip towards 89.30 level. Initially anything above 90.35 level seems a good sell and if USDJPY extended its upward move, then a very good long-term sell can be seen around 91.00 level. USDJPY will initially look to dip towards 89.30 level, break of which will set 88.65 as next target level.

TRADE:

Sell USDJPY @ 90.35 and Sell again (if required) at 91.05 for Profit Level @ 89.30 with Stop @ 91.40 level. Profit target can be extended to 88.65 

EURUSD looking to make it to 1.4000

EURUSD: (1.4061)

EURUSD is moving nicely towards 1.4000 level as predicted in our last two reports. Yesterday it took some retrace and gave traders another chance of selling EURUSD for 1.4000 level who might have missed out last time. Currently ay trader looking to enter will be eying an opportunity to sell EURUSD around 1.4144 level if EURUSD takes some minor retracement. Use of small trailing stop is not advised as the downward move is gradual and trailing stop might exit you earlier than expected.

TRADE:

Sell EURUSD @ 1.4159 and Sell again (if required) at 1.4280 for Profit Level @ 1.4000 with Stop @ 1.4330 

EURUSD seems to have completed its retracement

EURUSD: (1.4138)

EURUSD took retracement towards 1.4180 level as expected and some brokers also filled the sell limit for us as well. The plan seems to stay the way it was pointed out last time and we expect that EURUSD will take an early dip during this week and we might see EURUSD touching 1.4000 level. RSI has opened up a bit after two days of retracement and seems to have set itself up perfectly for a move towards 1.4000 level.

TRADE:

Sell EURUSD @ 1.4180 and Sell again (if required) at 1.4280 for Profit Level @ 1.4000 with Stop @ 1.4330

EURUSD looking to take some retrace

EURUSD: (1.4090)

EURUSD took a sharp dip, as expected, towards 1.4000 level but was just not able to make it to that mark. We might see EURUSD making another attempt towards 1.4000 level but before doing so, we expect some retracement by EURUSD. What traders will look now to is different retracement levels EURUSD has to offer. The fist interesting selling level can be see at 1.4180 and the second at 1.4280 level. Most traders might look for levels in between those two levels.

TRADE:

Sell EURUSD @ 1.4180 and Sell again (if required) at 1.4280 for Profit Level @ 1.4000 with Stop @ 1.4330

USDJPY heading towards 91.75

USDJPY: (91.13)

USDJPY seems to be heading towards 91.75 level at the moment and from there we might see its resuming downward move. If USDJPY manages to break above 91.75 level, we might see USDJPY heading towards 93.00 level but a dip from 91.75 is expected as it is a strong resistance both in daily and weekly charts. Also retracement of USDJPY will also be completed around 92.00 level. Selling in between 91.75 and 92.10 levels seems a very good opportunity for initial targets for USDJPY should be around 90.25 level.

TRADE:

Sell USDJPY @ 91.75 for Profit Level @ 90.25 with Stop @ 92.50