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Edition:  English |   عربي 
Edition:  English |   عربي 
Edition:  English |   عربي 
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Daily Reports  Friday February 10 , 2012 11:45 GMT
Technical Cross
Great British Pound vs. Japanese Yen (GBP / JPY)


Midday Report

 gbpjpy10_02_2012_02

The pair settled for areas around 122.40 and then rebounded to the upside, attacking the level of 123.00. In general, our morning expectations remain valid, noting that the negativity seen on momentum indicators could force the pair to decline slightly to gather positive momentum to reach the suggested targets.

The trading range for today is among the major support at 121.20 and the major resistance at 125.65.

The short-term trend is to the downside as far as 150.00 remains intact targeting 112.00.

Previous Report

Weekly Report



Support122.60122.25121.80121.00120.60

Resistance123.00123.80124.25124.80125.65

RecommendationBased on the charts and explanations above, our opinion is buying the pair above 122.25, targeting 123.80 and then 124.80 and stop loss with 4-hour closing below 121.20 might be appropriate


Euro vs. Japanese Yen (EUR / JPY)


Midday Report

eurjpy10_02_2012_02 

The pair is trading within narrow levels since the morning around 103.00, while momentum indicators provide negative signals which could force the pair to retest areas around 102.55 before achieving the targets of the upside move. SMA supports our positive expectations.

The trading range for today is among the major support at 101.40 and the major resistance at 105.15.

The short-term trend is to the downside as far as 123.30 remains intact, targeting 94.80.

Based on the chart and explanations above, our opinion is buying the pair around 102.25, and taking profit at 103.80 and stop loss below 101.40 might be appropriate today

Previous Report

Weekly Report



Support102.25101.60100.80100.1599.25

Resistance103.35103.80104.25104.75105.15

RecommendationBased on the chart and explanations above, our opinion is buying the pair around 102.25, and taking profit at 102.25 and 103.80 and stop loss with 4-hour closing below 101.40 might be appropriate today


Euro vs. Great British Pound (EUR / GBP)


Midday Report

eurgbp10_02_2012_02 

The pair is biased to the downside since the morning after it reached the critical resistance of 0.8420, where the negativity seen on momentum indicators affected the pair sharply. In general our suggested scenario remains valid for the rest of the session today. We recommend reviewing our morning report for more details.

The trading range for today is among the major support at 0.8170 and the major resistance at 0.8550.

The short-term trend is to the upside as far as 0.8170 remains intact, targeting 1.0370.

Previous Report

Weekly Report



Support0.83150.82550.82000.81700.8100

Resistance0.84200.84400.84800.85500.8605

RecommendationBased on the charts and explanations above, we remain neutral awaiting more confirmations


 
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