- NZD/JPY has broken up through its consolidation channel and buying dips back towards 84.50 looks like the obvious play;
- EUR/JPY is trying to consolidate above 141.00 and if it can, […]
EUR/JPY has made more gains in early interbank trade and is currently trading near 141.20. The 61.8% retracement of the huge downmove from 169.50 to 94.00 has been marginally […]
Looking for extremely over-bought or over-sold conditions can be a very profitable exercise in the FX market. Of course there are plenty of false alarms but if you trade […]
All those contrarians out there, like myself, should keep a close eye on this pair. If the 200-dma can hold again then we should see a fairly sharp sell-off […]
The 61.8% of the big fall from 169 comes in above 140.50 and that’s the next obvious technical target.
- Monthly highs near current levels, 139.10/20;
- 61.8% retracement of big move from 169 comes in near 140.50.
Not much in the way of heavy supply until 102.25 and above according to my Prime Brokerage contacts. Now that 101.55 has been overcome, we should expect dips towards […]
- Talk of a barrier at 101.50 which will be well defended;
- July highs at 101.55 directly above there;
- We can expect to see plenty of stops above 101.65/70;
- GBP/JPY still looks like […]
- Prime broker reports stops just above 1.6200 in cable but sell orders also seen 1.6215/20 which should be enough to cap during Asian trade (unless large GBP/JPY demand appears […]
GBP/JPY made a significant move higher last night breaking above monthly highs at 163.00. It’s unusual for these big levels to break on the first time of asking, but […]
Huge level looming large for GBP/JPY at 163.00 (see chart). Normally these levels hold on the first test but watch out if it breaks.
There are no significant trends in control at the moment so the best we can look for is some short-term trading opportunities. Like I mentioned below in the AUD/USD, […]
- NZD/JPY: Could be worth selling near 84.00 with a tight stop, especially if USD/JPY stays below 100.55/60;
- USD/CAD: Buy near 1.0450 with stop below 1.0420.
Modest up-trend still in control but we could see a pullback towards 81.00 after resistance levels at 84.00 held firm again (see chart).
With NZD/USD showing a potential […]
- It’s Monday morning so we may get some silly moves but the fact that it hasn’t happened yet suggests that there are sell orders ahead of any stops;
- Technical resistance […]
I have no idea where USD/JPY is headed in the shortish-term. The market is quite long yet it looks comfortable with the position so we may indeed see further […]
This pair has come a long way over the past 12 months and I feel we are soon going to see a sharp retracement lower towards 120.00 perhaps. Most […]
Good afternoon from cold and wintry London and I’m taking a badly needed break from back-to-back meetings to check on my trades. Not much going on with my 2 […]