Oil…needs a close over 95.00 for another leg up. Pattern breakdown starts to occur
under 93.50. Look for this to move in 75-80 tick increments.  Leave the trailing stop on our remaining longs @ 93.20.

AUD/JPY…macro buy stops from 2007 are @ 107.93. Not a good idea to buy strength in this cross today.
AUD/USD…106.00 is the next closing hurdle and the January high.

EUR/JPY…132.05 is the next macro closing hurdle. Just to give you some perspective, the same 2007 level in this cross matching AUD/JPY is 170, CAD/JPY..125, GBP/JPY…250

CAD/JPY…has the best of the chart patterns from a risk perspective, given that 97.00 is now the Macro pivot. It’s a level you can manage your risk on a break.

USD/JPY…has reached our first major tgt of 100 +- 20 pips, with a 99.85 dollar high.

Spu’s…need to back and fill. They have come a long way straight up. We will Sell  another 25% of our Longs today @ 1591.

Bunds…closing under 144.85 means the high is in for a while.

General Comments…

Understanding how crosses work is key to making money. 100 in the Yen is a no man’s land the first couple of times in for various reasons. Needless to say, anyone buying dollars into this level will get their lunch handed to them.

Since smart traders are not pressing the natural # of 100 USD/JPY, they are pushing the crosses by buying all other currencies against the Yen keeping the trend intact.

When the Yen crosses go higher it’s a “Risk On” trade.

Short Term View…

Don’t fight the money printers.

It’s the first days of a new qtr., use the 3/28/13 closes for your short term pivots in everything!

Medium Term View…the qtrly update is out. This update is provided exclusively to current subscribers and will not be posted on our site until mid-June for general review.

FYI…Anytime you wish to look up levels, go to the website (Click on Pro Tips…add the instrument you are looking for in the box…)
Everything I’ve written for the Month will appear.