PipHunter

PipHunter

Today we could see a mild rotation down and a consolidation. Key resistance is at $45.45. If $45.45 is broken to the upside, then strong bull continuation.

PipHunter

Tight bullish channel in place. However beware correction to $44.79 If $44.79 is broken watch $44.40.

PipHunter

The market might need to find support at 8122

PipHunter

Bears can time their entry

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Trendline and MA almost reached

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Looking for important levels to be hit to provide support

PipHunter

TA suggests that bears have not yet managed to take control.

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TA suggests a move back to 1.09 and 1.08

PipHunter

Providing the US data comes in as expected or better we will see more of the same for this pair and see the price action trapped in the range.

PipHunter

The USDJPY is in corrective mode. 120.45 should provide some support for the bulls in the sort term.

PipHunter

It is possible to be short in this corrective move but I would be more comfortable to buy close to 120.00 - 120.50.

PipHunter

The pair is correcting the strong bullish breakout of BoJ monetary policy on negative interest rates. The market needs to know the US NFP data to continue its breakout.

PipHunter

I am bullish short term. Target 1.0930

PipHunter

The single currency is at the mercy of fundamental data. Markets participants undecided which way it will go. On the daily chart having a swing in either direction is ok but better to wait for more information to fully commit.

PipHunter

USDJPY may pullback and provide a buy opportunity

PipHunter

120 or 120.50 is a likely area for a pullback

PipHunter

How long will it last?

PipHunter

Bullish momentum and fundamental lining up slowly...