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This is pretty much the same situation as Eur/Jpy, where we broke down through the trend line 2 weeks back and now are retesting that same trend line. I am still a believer that this pair will go sub 1.35 before it goes past 1.45. This is based on technicals and the fact that I expect the major indices to make another big dive within the next three months.

My strategy here is to short 1.4280 to 1.4350 with a stop above 1.4420.

Good Tradin’

Please remember that this analysis is only my personal opinion.

Any trades are done at your own risk and I take no responsibility for you acting on this or any of my other opinions or trading ideas.

Always do your own homework and never blindly follow someone else’s recommendations.