USDJPY remains within the larger downtrend channel.
The uptrend channel on the Hourly channel has been broken. Safe to short to the 109.70 region. Further break below 109.70 will lead to 109.40-109
A clear double top on the hourly chart and the pair also seems to be forming a Head and Shoulders pattern. The move up late last week was a simple spike related to the EU Immigration deal that went through. The Euro remains intrinsically bearish.
EURAUD is back to a previous resistance level. Moreover, the Aussie dollar has been sold off heavily as of late and nearing oversold conditions. Taking both of these factors in to account, this is a safe short.
It would seem only natural to want to short something that was sold off in such a devastating manner but if we take an unbiased look, Gold seems to be a better Long than a Short. We saw a crushing selloff on Gold on Friday but if we take a look at the bigger picture, the uptrend remains intact and the price remains supported by the 100MAV on the weekly chart....
What was previously support for this pair has now become resistance. Safe to sell on rallies in my opinion.
We had a massive selloff on this pair on Thursday after the ECB's dovish statements. Bulls have since attempted a relief rally but the upside is capped by the 20MAV on the Daily timeframe at 128.55 As can be seen above on the hourly timeframe, the pair has formed a nice bear flag that should break downwards fairly soon. With trade war tensions on the rise once...
USDJPY was very choppy last week but always look at the bigger picture. On a weekly timeframe, we are well within a downtrend. On a closer look on the Daily timeframe, we can see that the larger downtrend was respected even with a hawkish Fed raising rates and signaling an additional rate raise for this year. With $50 billion in tariffs on China announced by...
We are now retesting the broken uptrend line from last August. Bulls have rallied significantly in the last week and a surprise build in inventory this past Wednesday pushed Crude futures even higher. However, we are now at a major resistance and moreover, the Daily 20EMA at $67.16 should subdue any advances. With OPEC meeting next week and the Saudis/Russians...
Taking into account the technicals and current market fundamentals, this short is a no brainer.
Double top on H4 at 130.27 Wait for further confirmation on smaller TFs to enter a short position.
Simple double top pattern on H4 and the pair is also capped on the topside but the Daily 200MAV at 1.5496 My overall view of this pair is bearish and I will add more Shorts along the way. A link of my original analysis on a weekly timeframe is attached below.
Last week GPBJPY broke down below a cluster of supports and presented a roughly 350 pip selling opportunity. Since then, the Pound has rallied and created a bear flag on the Hourly chart (as shown above). The price is now sitting at a long term support that has now turned into resistance. Any rallies from here will be good opportunities to short this pair....
As the chart demonstrates, we have double topped on Brent (UKOil) and after last week's massive selloff, we have retested the downtrend. The move up today was nothing but a short squeeze from last week's selloff. Once the neck line/immediate support is broken, the price will fall. Saudi Arabia and Russia have both agreed to increase production to compensate for...
USDJPY has been in a broader downtrend for quite some time now. As the markup demonstrates, I believe we are in the beginning stages of a new downtrend that could very well lead us to the a new 2018 low. I am short from 109.80 and 108.95 with a pending short a 109.35 I believe it is safe to short on any rallies and only a Daily close above 111.25 would...
As we can see from the diagram, a nice Head and Shoulders pattern unfolding on the Daily timeframe on this pair. BoC's hawkishness provided us the spike up today to form the right should and the price was stopped at old broken support that has now become resistance. Moreover, the price is capped on the topside by the 200EMA. We also have the bearish crossover on...
As we can see from the chart, the uptrend from last July has been broken and we've also completed a triple top pattern. The broken uptrend was retested and failed. Additionally, the Kiwi has been sold off heavily as of late and is bound to rebound. This is a longer term trade but the reward will be well worth the wait. Good luck and thank you for looking!!