The currency pair is in an uptrend unfolding from the 1.2484 bottom and probably ahead of a significant reversal on weekly basis. The technical indicators are rising and the trading is situated above the 50-day and the 200-day SMA, currently projected at 1.5317 and 1.4516.

Daily Analysis
18 April 2008
Current level-1.5943

The pair broke throgh the 1.59+ resistance, reaching high at 1.5981 that was practically a test of the 1.6000 sentiment level. Consolidation is unfolding since and we expect it to be limited above 1.5821 before renewing the uptrend towards 1.6103 and 1.6346 later on.
resistance
support
intraday intraweek
1.5981 1.60-sentiment
1.6000 1.6346

intraday intraweek
1.5885 1.5341
1.5821 1.4961
USD/JPY

Daily Analysis
18 April 2008
Current level - 102.39

The pair is in a clear downtrend from the 114.66 top, after completing the broad consolidation since 107.21. The technical indicators are falling on daily basis and trading is situated below the 50- and 200-day SMA, currently projected at 103.15 and 111.03.
Our short-term targets at 101.41 and 102.02 have been met, so we’ll expect a downtrend to emerge, for a break below the 99.86 dynamic support, en route to 95.75. Nevertheless the uptrend on he lower time-frames is still intact, aiming at 103.36-58, so only below 100.82 will be confirmed, that the outlook is toatally bearish for 95.75.
resistance
support
intraday intraweek
102.13-27 103.58
102.92 104.97

intraday intraweek
101.41 99.08
GBP/USD

Daily Analysis
18 April 2008
Current level- 1.9946
The pair has reversed at 1.9337 and the technical indicators are rising and convergent. Trading is situated below the 50-day MA, projected at 1.9741 and the 200-day SMA, at 1.9925.
With yesterday’s break above the dynamic resistance at 1.9849, 1.9599 was confirmed to be the end of the slide from 2.0397. from a short-term point of view, current upmove will target 2.0397 and probably 2.0622. Intraday a strong uptrend is on the run and we expect it to reach 2.0198 before any significant corrective phase.
resistance
support
intraday intraweek
1.9976 2.0461
2.0051 2.0575

intraday intraweek
1.9697 1.9415
1.9650 1.9363