AUD,NZD/EUR/USD/Flows and Orders/Trade Ideas/USD/JPY

Levels to watch in the FX market, Friday May 3rd

  • Remember that China and Japan are closed again today so it should be quiet in Asia. 
  • AUD/USD bids at 1.0220/25 continue to holds the bears at bay (I expect these bids to cancel before NFP).
  • EUR/USD has solid technical support near the overnight lows at 1.3035.
  • USD/JPY barrier protection ahead of 97.00 continues to dominate this pair.
  • EUR/CHF is testing support levels near 1.2200.
  1. Hi Sean,

    Larger sell stops from 1.3020 down to 1.3010 as I’ve heard, might be a good target for a s/t short position.

    USD/JPY will also be interesting, we have now two large barriers, 97/100. Might be good for a few range trades unless NFP take one of them out today. 🙂

  2. Morning Sean, played the USD/JPY longs from 97,25 to 98,10 today with 10 lots. Quick cash (again!) to throw at my USD/CHF longs which also got today very close to break even. I must say thank you to the big panda for holding the 97 level twice for me! 🙂

  3. Yes indeed Rui, I’m very grateful to him as well, as well as to the unnamed hedge fund trader who gave me the info; many thanks due there also.
    I’m thinking breakeven in the Swissy might not be a bad result at all 🙂

  4. Oh, I would never day-trade the Asian session, I need a bit more volatility than that. 🙂 But at least you can trade the London open, right? There have been some nice moves in i.e. GBP/USD in the last few London opens.

  5. Absolutely, I’ve been working around the NY close then starting again around this time. The core of the Asian session has been a complete snooze fest

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