Improved sentiment along with a robust USD seen across the board, provided a floor of support for the USD/JPY on Tuesday. H4 mid-level resistance at 112.50 was taken out mid-way through London’s morning session, clearing the path north for US traders to approach the 113 handle.
As of current movement, the pair is seen crossing swords with 113. Traders who follow...
In Monday’s report the team explicitly specified to be suspicious of longs around the 1.0000 (parity) neighborhood, despite it likely being a watched number across the market. Not only do we have weekly resistance in the form of a 2016 yearly opening level at 1.0029 in play, we also saw daily price chalk up a nice-looking bearish pin-bar formation on Friday off a...
GBPUSD reversed off its resistance at 1.3293 (61.8% Fibonacci extension, 76.4% Fibonacci retracement, horizontal swing high resistance) where price could drop to its support at 1.3120 (100% Fibonacci extension, horizontal swing low support). We do have to be caustious of the intermediate support at 1.3200 (50% Fibonacci retracement, horizontal overlap support)....
EURJPY is testing its resistance at 131.74 (100% Fibonacci extension, 78.6% Fibonacci retracement, horizontal overlap resistance) where it could react off, causing price to fall to its support at 130.00 (23.6% Fibonacci retracement, horizontal swing low support).
Stochastic (55, 5, 3) is testing its resistance at 96% where a corresponding drop could occur.
USDCAD is approaching its support at 1.3122 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap support) where it could potentially bounce off and rise to its resistance at 1.3267 (100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal pullback resistance).
We do have to be cautious of the intermediate resistance at 1.3208...
USDCHF approaching support at 0.9960 (100% Fibonacci extension, 50% Fiboancci retracement, horizontal overlap support) where price could rise to its resistance at 1.0066 (horizontal swing high resistance). Stochastic (55, 5, 3) is testing its support at 3% where a corresponding rise could occur.
AUDJPY is testing its resistance at 83.58 (76.4% Fibonacci retracement, 61.8% Fibonacci extension, horizontal overlap resistance) where it could reverse down to its support at 82.70 (100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap support).
Stochastic (89, 5, 3) is approaching its resistance at 98% where a corresponding reversal could occur.
EURCHF is testing its resistance at 1.1710 (61.8% Fibonacci extension, 50% Fibonacci retracement, horizontal overlap resistance) where it could react off, causing it to fall to its support at 1.1601 (61.8% Fibonacci extension, 38.2% Fibonacci retracement, horizontal pullback support).
Stochastic (55, 5, 3) is approaching its resistance at 98% where a...
AUDNZD is approaching its resistance at 1.0985 (78.6% & 61.8% Fibonacci retracement, horizontal swing high resistance) where it could potentially fall to its support at 1.0861 (38.2% Fibonacci retracement, horizontal swing low support).
Stochastic (89, 5, 3) is approaching its resistance at 99% where a corresponding reaction could occur. We have also identified a...
AUDUSD reversed off its resistance at 0.7433 (100% Fibonacci extension, 61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap resistance) where it could potentially drop to its support at 0.7375 (horizontal swing low support).
Stochastic (55, 5, 3) reversed off its resistance at 96% where a corresponding drop could occur.
EURJPY is approaching its resistance at 131.45 (100% Fibonacci extension, 76.4% Fibonacci retracement, 50% Fibonacci retracement, horizontal overlap resistance) where a reversal could occur, causing price to fall to its support at 129.35 (61.8% Fibonacci extension, horizontal pullback support).
Stochastic (89, 5, 3) is approaching its resistance at 98%. We have...
GBPJPY reversed nicely off its resistance at 148.78 (100% & 61.8% Fibonacci extension, 76.4%, 50% & 38.2% Fibonacci retracement, horizontal overlap resistance) where a further drop to its support at 146.72 (38.2% Fibonacci retracement, horizontal pullback support) could occur.
Stochastic (89, 5, 3) reversed nicely off its resistance at 98% where a corresponding...
NZDUSD bounced nicely off its support at 0.6750 (100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing low support) where it could potentially rise to its resistance at 0.6855 (61.8% Fibonacci extension, 76.4% Fibonacci retracement, horizontal swing high resistance).
Stochastic (55, 5, 3) bounced off its support at 2.9% where a corresponding rise...
CADJPY is approaching resistance at 85.90 (100% & 61.8% Fibonacci extension, 76.4% Fibonacci retracement, horizontal pullback resistance) where it could reverse down to its support at 83.78 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal pullback support).
Stochastic (89, 5, 3) is approachign its resistance at 99% where a corresponding reversal.
GBPJPY is approaching its resistance at 148.17 (61.8% & 100% Fibonacci extension, 76.4% & 50% Fibonacci retracement, horizontal overlap resistance) where it could potentially fall to its support at 145.63 (61.8% Fibonacci extension, horizontal overlap support).
Stochastic (89, 5, 3) is approaching its resistance at 96% where a corresponding reaction could occur.
GBPUSD is testing its support at 1.3191 (61.8% Fibonacci extension x2, 61.8% & 50% Fibonacci retracement, horizontal overlap support) where price could bounce to its resistance at 1.3301 (61.8% Fibonacci retracement, horizontal swing high resistance).
Stochastic (55, 5, 3) is approaching its support at 3.3% where a corresponding bounce could occur.
USDJPY is testing its resistance at 112.14 (100% Fibonacci extension x3, 61.8% Fibonacci extension, 76.4% Fibonacci retracement, horizontal overlap resistance) where price could reverse back down to its support at 110.43 (100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing low support).
Stochastic (89, 5, 3) is approaching its resistance at...
EURJPY is approaching its resistance at 131.32 (76.4% & 50% Fibonacci retracement, horizontal swing high resistance) where it could potentially reverse down to its support at 129.23 (61.8% Fibonacci extension, horizontal pullback support).
Stochastic ( 89, 5, 3) is approaching resistance at 98% where a corresponding reaction could occur.
