Japan's Tokyo's core inflation rate accelerated to 2.5% y/y in January, up from 2.4% in December and in line with market expectations. This marked the highest level since February 2024 and reflects rising inflationary pressure. Tokyo CPI jumped to 3.4% y/y, its highest in almost two years, as food prices rose sharply.
Tokyo core CPI is closely monitored by Bank...
EURJPY - Intraday expiry
Price action looks to be forming a bottom.
This is positive for short term sentiment and we look to set longs at good risk/reward levels for a further correction higher.
Preferred trade is to buy on dips.
We look for a temporary move lower.
Further upside is expected although we prefer to buy into dips close to the 160.90 level.
We...
SPX500USD - 24h expiry
Price action looks to be forming a top.
A Doji style candle has been posted from the high.
This is negative for short term sentiment and we look to set shorts at good risk/reward levels for a further correction lower.
Further downside is expected although we prefer to sell into rallies close to the 6058 level.
Although the anticipated...
NZDUSD - 24h expiry
Pivot support is at 0.5640.
Risk/Reward would be poor to call a buy from current levels.
Short term RSI has turned positive.
A move through 0.5675 will confirm the bullish momentum.
The measured move target is 0.5750.
We look to Buy at 0.5640 (stop at 0.5610)
Our profit targets will be 0.5725 and 0.5750
Resistance: 0.5675 / 0.5700 /...
The Australian dollar is down for a third straight trading day and has declined 1.3% this week. In the North American session, AUD/USD is trading at 0.6228, down 0.37% on the day.
Australia's annual inflation rate dropped to 2.4% in the fourth quarter of 2024 from 2.8% in Q3. This was below the market estimate of 2.5% and was the lowest reading since Q1 2023....
NZDJPY - 24h expiry
The primary trend remains bearish.
The sequence for trading is lower lows and highs.
Preferred trade is to sell into rallies.
Risk/Reward would be poor to call a sell from current levels.
Bespoke resistance is located at 88.60.
We look to Sell at 88.60 (stop at 88.95)
Our profit targets will be 87.60 and 87.25
Resistance: 88.25 /...
The Australian dollar is in negative territory on Tuesday. In the North American session, AUD/USD is trading at 0.6252, down 0.62%.
Investors are keeping a closer eye on the third-quarter inflation report, which will be released early on Wednesday. CPI is expected to ease to 2.5% from 2.8%. This is the final tier-1 event prior to the Reserve Bank of Australia's...
The Australian dollar is in negative territory on Monday. In the North American session, AUD/USD is trading at 0.6276, down 0.59%. The Australian dollar is coming off its best weekly performance since Nov. 2023, gaining 2% against the US dollar.
China's services and manufacturing sectors both decelerated in January and missed expectations. The non-manufacturing...
DE30EUR - 24h expiry
We are trading at overbought extremes.
A higher correction is expected.
Short term momentum is bearish.
Short term oscillators have turned negative.
Offers ample risk/reward to sell at the market.
A break of the recent low at 21166 should result in a further move lower.
We look for losses to be extended today.
We look to Sell at 21249...
The Japanese yen gained as much as 0.8% earlier today but has failed to consolidate these gains. In the European session, USD/JPY is trading at 156.03, dwon 0.02% on the day.
The Bank of Japan hiked its policy rate by 25 basis points earlier today, as expected. This brings the policy rate to 0.5%, its highest level since October 2008, during the global financial...
US500 - 24h expiry
Price action continues to trade around the all-time highs.
Previous resistance located at 6102.
A 5 wave bullish count has been completed at 6107.
There is scope for mild buying at the open but gains should be limited.
Further downside is expected and we prefer to set shorts in early trade.
We look to Sell at 6102 (stop at 6147)
Our...
The Japanese yen is slightly lower on Thursday. In the European session, USD/JPY is trading at 156.25, down 0.16% on the day.
All eyes are on the Bank of Japan, which meets early on Friday. The BoJ is expected to raise interest rates by 25 basis points which would bring the cash rate to 0.50%. The BoJ has said that it will raise rates if it sees higher wage...
CHN50 - 24h expiry
Price action has continued to trend strongly lower and has stalled at the previous support near 12800.
We expect a reversal in this move.
Risk/Reward would be poor to call a buy from current levels.
A move through 12900 will confirm the bullish momentum.
The measured move target is 13100.
We look to Buy at 12800 (stop at 12700)
Our...
The Japanese yen is in negative territory on Wednesday. In the North American session, USD/JPY is trading at 156.53, up 0.68% on the day.
There are no key releases in the US today. On Thursday, the US releases unemployment claims and President Trump will address the World Economic Forum. Trump has vowed to levy tariffs on US trading partners, including China and...
NZDJPY - 24h expiry
The primary trend remains bearish.
The sequence for trading is lower lows and highs.
Preferred trade is to sell into rallies.
Risk/Reward would be poor to call a sell from current levels.
Bespoke resistance is located at 88.15.
We look to Sell at 88.27 (stop at 88.67)
Our profit targets will be 87.27 and 86.90
Resistance: 88.00 /...
The British pound continues to show sharp swings this week. After a spectacular 1.3% gain on Monday, GBP/USD has reversed directions and is trading at 1.2233 in the European session, down 0.68% on the day.
The UK payrolls report, a reliable indicator of employment growth, showed a sharp decline of 47 thousand m/m in December 2024. This was the largest decline...
CHN50 - 24h expiry
A bullish reverse Head and Shoulders is forming.
Risk/Reward would be poor to call a buy from current levels.
A move through 13150 will confirm the bullish momentum.
The measured move target is 13500.
Short term RSI has turned positive.
Our profit targets will be 13500 and 13525
We look to Buy at 13000 (stop at 12750)
Resistance: 13250...
The yen is almost unchanged on Monday. In the European session, USD/JPY is trading at 156.37, up 0.06% on the day. We can expect a quiet day, as the US observes Martin Luther King Day and Donald Trump will be sworn in as President.
The yen is coming off a busy week, with sharp swings on each of the past three trading days. The Japanese currency gained 0.95% last...
