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USD/JPY Intraday Technical Levels for June 1, 2012

The pound is trading higher against USD but lower against the crosses. The cross made a double to at 1.9762 and changed the direction. The cross has been falling for 3 consecutive days. At yesterday's session, the cross closed below 20 & 50Dsma. The cross has been making higher lows formation for 8 consecutive months. At today's Asian session, the aussie is trading higher against GBP. On Tuesday, we recommended both buying and selling opportunities. We recommend intraday selling below 1.9645. The pair made a low at 1.9306. The nearest support is found at 1.9270 20Wsma. Bulls need to close above 1.9270, otherwise another 200 pips will be wiped out (like 1.9100, 1.9050, and 1.8975). We recommend fresh selling below 1.9268. At the Asian session, AUD is trading higher against GBP.


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