Forex Weekly Review for August 2010

USD/JPY Review:

US Dollar / Japan Yen  was dropped sharply to as low as 83.58 last week where indicated a strong rebound then formed a higher high uptrend which can be seen in H1 chart. I think will be a good time to buy some.

Yen strengthens strongly causing USD/JPY pair to plunge after a positive Monetary Policy Statement release last week. Good news for this pair.

ERU/USD Review:

Europe /US Dollar : Downtrend extend until a support level of 1.2587 was formed.  At last, it shown a strong recovery with a slow and limited movement to upside ranging in H1 with M15 range crossover. D1 chart shows possible downtrend continuation.  Is time to long it.