Wednesday, May 23, 2007

short term trade (2 hour chart) - long EURJPY at 163.63 - - rationale:

> bounced off Trend line support
> +DI is about to cross -DI from below
> MACD has crossed from below and is close to the crossing the central line
> 20; 40; 65 MAs are all tightly clustered and I guess this points that they are all pointing at a pivot zone/level where the price is rotaing around in the present consolidation

in the same time USDJPY is very bullish - breaking the Feb 23 high at 121.61...

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