USDJPY – The US Dollar is gaining ground against the Japanese Yen. All looks happy and dandy for the USDJPY bulls at the moment. Every day is a Sunday and they can smell the flowers while trading on their desk. But how long can this elevated move in the USDJPY sustain itself? If you look at the daily chart above, it is quite clear that we are in a down trend. We...
Look to short towards support zone. SL at 116.5 for 1:1 Risk Reward ratio.
Bullish in this pair. Read comments on chart. Follow me at www.facebook.com
Good employment figures from down under.
Around 1.524 to 1.526.
Short at supply zone.
Pair now in sideways mode as we wait for the outcome of the Jackson hole meeting today.
Bulls are in charge and break out above the resistance downtrend line on daily time frame.
AUDSGD is near historical lows but current price action is showing the pair in a sideways consolidating channel.
EURAUD - Here is an idea to go long on this pair on the daily timeframe. This pair has formed a Higher Low (HL) and has broken resistance zone at 1.487. You can also see that that zone is the neckline of an inverse head and shoulders pattern. Another reason supporting a buy trade. MACD histogram is above zero line and supporting a bullish trend although the...
Good support seen at 101.416. SL at 101.313. TP at Main pivot at 102.65.
Pair in a range. Stop loss above 1.04. Target bottom of range or 1.00.
The pair have been going sideways for a few days now and looking for direction. At the moment I am in waiting mode.
GBPJPY - R1 acted as resistance and pair decided to go lower. I won't discount a continued up move. Look at the daily candle bodies in the last 2 sessions. Small bodied and lacking the impulse moves we see in previous red candle moves at resistance. If it goes lower, the clustering of 15ema, 21ema and 21smma can act as support. A bounce off such support can...
Pair at the bottom of trendline marked as TR4. Downside support at 1.46. Any retrace up should be capped by 1.49 and 1.50 resistance.
Trading above the 21 ema and the 21 smma, the pair is moving sideways in low liquidity end of year trading.