Category in Trade Ideas

AUD/JPY: Testing water with small long near 90.35

Firstly, I’m not picking these moves particularly well at the moment and some of the cross moves in pairs like EUR/AUD have me quite baffled. Nevertheless, I still think it’s worthwhile buying AUD/JPY near 90.00 just to see if technical support holds. This level is a double-bottom neckline as well as a 61.8% retracement level.

Hard to find any clear signals at the moment but I remain bearish on EUR crosses

1.3500 in EUR/USD looks like it might be a key level, if that breaks then look for a sell-rally strategy in EUR pair of your choice; EUR/GBP is heading lower in a bear channel but will find profit takers near .8180; If EUR/JPY breaks below 140.40 again, then we should see a clean-out of longs

EUR/USD: Continue to favour the short side

Medium-term trade idea from a week ago is starting to evolve; Trend-line support and a 61.8% retracement at 1.3510/15 (see chart); I’m staying bearish on some of the main EUR crosses with EUR/AUD back at long-term neutral levels, EUR/JPY looking heavily overbought and EUR/GBP sentiment decidedly bearish). I’m running small shorts here from last week

EUR/JPY: Shorts favoured but still need to respect important support levels

Weekend win in Japanese regional elections by opposition parties will worry Yen shorts; Overall positioning still running at extreme levels; The topping formation which we started watching last week is still looking very plausible; Support levels will be firm starting at 140.50 but a break back below 140.00 could be critical on a number of