JPY and GBP make strong gains against AUD and NZD
GBP/AUD is testing weekly resistance at 1.6180, EUR/AUD is eyeing our 1.38 target and AUD/JPY has broken below 38.2% support at 95.50.
- GBP/USD: Sticking with my long position here, support should now develop near 1.5370 and the target is recent highs at 1.5600.
- AUD/USD: I’m still running a small long from yesterday at .9600 but this is the wrong position; hoping to exit on any intraday rallies. Talk of barrier protection at .9500 might support on the session.
- USD/JPY: Still small short here and I think this pair shows potential for a big downside cleanout.
- CHF: Is gaining strength alongside the Yen and best left alone in my opinion.
- The EUR and the USD are bit players in these big cross moves.