Forex Updates – EUR/USD, GBP/USD, USD/JPY

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Screen Shot 2012 05 28 At 7.29.34 PMThis is the daily chart of the EUR/USD. It has broken below the previous swing low, and pulled back to test the breakout. I will be looking to short this.
Screen Shot 2012 05 28 At 7.36.11 PMThis is the daily chart of the USD/JPY. It is pulling back after a strong upmove, and is now resting on the fibonacci 61.8% retracement. I will be staying out of this one for now. Keep watch to see if the uptrend resumes.
Screen Shot 2012 05 28 At 7.34.37 PMThis is the daily chart of the GBP/USD. It is trading in a range, and is now in the middle of the range, resting on support. After the failed wedge breakout, it has decline rapidly, and I am looking to see if the support holds.

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