| Currency | Direction | Status | Entry | Stop | Target | Date | Analyst |
| GJ | Short | Active | 133.45 | 133.90 | 132.00 | 6/22/10 | Erica |
| EJ | Short | Pending | 111.20 | 111.80 | 110.00 | 6/22/10 | Erica |
| AJ | Short | Pending | 79.30 | 79.90 | 78.00 | 6/22/10 | Erica |
Price on the GJ currently is at 134.11 and if you look on the weekly chart we have sideways the past 2 weeks. We still expect an overall retrace to the low of 125.00 on this pair before we see any major bullishness. Price action currently is at the 50% retrace on the fib scale and this area should hold as resistance. MACD is bearish below the water line and we will still look to sell the rallies on the 15 minute charts for our strategy.
The AUD/JPY pair is currently in a wide consolidation zone on the weekly chart as you can see the channel within the upper and lower trendlines. The 50% fib level was hit and now we can expect price action to retrace back the lower trendline 70.00 area. Until we get a clear close and break of the lower trendline we will still be in consolidation mode. We are selling the rallies on this pair using the 5 minute chart.
The EUR/JPY pair has been in a nice flowing downtrend. Even though we are currently sideways at 111.21, the leg 2 breakout will bring new lows to this pair. MACD is bearish underneath the “waterline” or 0 line and we can expect weakness in this pair until the leg 2 has completed it’s cycle with price action. We are selling the rallies on this pair using the 15 minute chart.
Erica Villalon, Traders International
Send any questions or comments to info@TradersInternational.com
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