Forexpros.com Daily Analysis - 03/06/2009

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EUR/USD Continues to March

A pair has just pulled off the highs in the early Tokyo session, but the trend is still up and the bias is still up.

Some support should be found at 1.4250 as well as 1.4200 where a short term trend line currently rests.

A late December 08 peak is in range at 1.4360. This level is likely to be tested today if the pair does not continue to fall off yesterday’s highs. A further profit target on the upside is 1.4410 and 1.4450.


USD/JPY Swings Continue

The see-saw action continues as market continues in its choppy range. A solid break of that daily range is not expected today.

A break below 95.35 would target 95.00 and beyond 94.60.

A push above 95.90 would target 96.20. A move above 96.20 would likely be stalled at 96.60 and beyond that 97.00.

Analysis by: http://www.Forexpros.com - Written by Cory Mitchell


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