Friday, July 27, 2007


20070729 EURJPY moves to the low of 162.5 from the breakdown point of 168.4-5 area. Unwinding of the carry trade could be the trigger of this type of move. Nevertheless, with a mindset of a down trend in place after the break of the triangle, a trader can trade on the right side of the trend move and reap the benefits these 1 1/2 weeks.

EURUSD chart
USDJPY chart
GBPUSD chart
USDCHF chart