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USD Forex Trading Program: 06/10/2013

USD Forex Trading Program: 06/10/2013

Jamie Saettele, CMT, Sr. Technical Strategist

See FX Technical Weekly (link below) for more information but the USDJPY has entered formidable resistance at 98.85 (former support). The 'sell zone' extends into the 20 day midpoint at 99.35 (6/6 high at 99.46). Supports for the week are the uncovered Friday close at 97.51 and 96.52/62.

Went short EURAUD last night with a stop above Friday's high. The combination of long term resistance from the August and October 2011 highs and May 2010 low, and gap open above 1.4000 is too good not to take.

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