The zone of 1.0618 to 1.0635 is a resistance zone. Any break of 1.0635 will be a signal for buying to 1.07000. A rebound from that zone will be a signal for selling to 1.0580 and 1.0555 :) good luck to everyone.
Japan's trade figures come in, its exports were higher for June but its trade balance was also higher then expectations. Doesn't look as the strong Yen heart exports so much. USD/JPY Daily Chart:
price is in"the zone" looking for a short trade after price leaves zone again.. also rsi divergence
AUDJPY may resume its uptrend tonight with a close above the short-term trendline. If this happens tonight with confluence from our proprietary price forecasting algorithm we will be initiating a Long position in AUDJPY which will be correlated with NZDJPY. This correlation, along with proper money management, will allow us to be profitable in many different...
AUD/NZD has retraced from session highs at 1.0741 and is currently trading around 1.0700 levels. The pair has broken major trendline resistance at 1.0500 levels, upside currently halts at stiff resistance by 1.0740, bias higher. Momentum studies are heavily bullish, we see scope for test of 100-DMA at 1.0828. Australia Q2 CPI data (due Wed 27 July) in focus...
Possible ending diagonal. I am looking for another leg lower. See attached chart for the bigger picture
The daily chart shows a corrective pattern from the June high. All gyrations are in 3s. The final leg of this three wave correction--(Y)--whether read as a triple-three, or A, B, and a double-three for C, has the same corrective conclusion. The fact that a trendline was broken is irrelevant because the waves have not finished yet. A few more gyrations down, and...
Long term outlook. Now wave 5 starts of (c). Short target around 1.00159 and then long towards 1.23043.
The 1.054 price has been respected since January, if this price breaks before a retracement expect upside of 1.07. The price is currently in a rectangle consolidation phase, and has been since mid June. Until this breaks, look for scalps.
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MAYBE A PULLBACK TO YELLOW ZONE THEN A ROLLOVER TO THE DOWNSIDE OR A PULLBACK ABOVE THE YELLOW ZONE ONLY TIME WILL TELL.....
Long @ zone, stops below X, targets @ a 0.382% ret of the AD leg. Note that there will be a rate decision on New Zealand, so trade this according to your rules.