Ranges to watch in early Friday trade.

Obviously the Yen crosses are the main ones to watch:

  • USD/JPY: Reports of a barrier at 80.50 and strong technical resistance at 80.60 should be hard to breach. Dips towards 80.00 will find plentiful support:
  • EUR/JPY: I’m running a short trade here (see members) and I think 103.70/104.30 will cover it for the next few hours:
  • EUR/USD: Depends what happens in EUR/JPY; looks like 1.2920/60 should contain:
  • AUD/USD: I’m still bearish but momentum is lacking, lot depends on AUD/JPY. I’d suggest 1.0335/75 range trading:

Overall it should stay quiet so I’m off for a few hours. See you a little later++

  1. AUD was not able to break 1.04 to the topside despite spending 2-3 sessions trying to do so. This strengthens the resistance at 1.04 and argues for a decent correction down to 1.0320 at the minimum. If 1.03 breaks today or Monday we will see a test of last week’s low at 1.0240.

  2. I quite agree with the range posted by my fellow trader. I said that last week. it had trouble taking out the sell stops at 1.0150 and it will have trouble taking out buy stops at 1.0410. once again proved yesterday

  3. This market is totally manipulated,

    23th, outside bar, so we should expect slide, right?

    no, 24th, closed as pin bar (made a new low),so we should expect a bit rise, right?

    no, 25th, closed as another down bar (made a higher high intraday, but still closed at low), …. so this time market should made a decision, right?

    no, 26th, I guess it will most people in surprise.

Leave a Reply

Your email address will not be published. Required fields are marked *