Category in Trade Ideas

Cable: Expect test of 1.6250/60 later today

Obviously talking my book here as usual but all the signs remain bullish for the GBP in my biased view. GBP/JPY and GBP/AUD have made strong technical breaks and once the crosses start heading in one direction, the cable is virtually certain to follow. There is major technical resistance at 1.6250/60 and the market tends

Major breaks on crosses should cause a re-think on AUD/USD, USD/JPY

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 if they do then watch out! EUR/AUD made a more modest break above recent daily highs near 1.4550 but the up-trend looks to be back in

USD/JPY: Very heavy turnover near 100.75

The interbank market is reporting some very heavy turnover near 100.75, which was a recent daily high. The next big technical level to watch above here is 101.55. I still think some of the Yen crosses look susceptible to deeper dips and that’s why I’m not getting overly bullish on USD/JPY. Elsewhere I’m still watching

Nikkei moving higher taking USD/JPY towards resistance levels

Recent highs in USD/JPY at 100.55/60 are edging closer with a break higher in the Nikkei the catalyst. The BOJ will release their latest rate decision this afternoon and perhaps there are some bets being placed that they may announce some unexpected measures? They would certainly be unexpected as nobody is talking about

NZD/JPY: Failure at 84.00 opens way for deeper pullback

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 topping formation and with USD/JPY resistance confirmed at 100.50, selling rallies in the cross certainly seems like the path of least

AUD intraday outlook; plenty of mixed signals

AUD/NZD- important technical support close-by at 1.1190 AUD/JPY- needs to break above 94.10 in order to increase short-term bullish momentum AUD/USD- short-term technical resistance should be solid near .9385 (see chart). There will be some intraday opportunities for sure in the AUD but first we must wait and see what happens at some of these

Cable: False break makes me even more committed to buy-dip strategy

The bears showed their weakness yesterday, unable to hold below 1.5900 after an important technical break (see chart) and this pair is headed much higher in the medium term. The market remains moderately bullish USD in the short-term so we still may see one exhaustive sell off towards my ideal entry level near 1.5775 but