Matt_Simpson

02:33

Matt_Simpson

Its failure to retest 8,000 after a feeble 2-day recovery this week looks like it may not take much to topple ASX 200 futures for another leg lower. And with an all-important NFP report lined up and traders heavily focused on minor signs of weakness, the path of least resistance could well be lower. Matt Simpson take a quick look.

Matt_Simpson

Yesterday I outlined why I was suspicious of the ASX 200 rally, and today I see it has now retraced. The ASX 200 futures market snapped an 11-day streak after forming a bearish pinbar perfectly at a 78.6% Fibonacci level, below the 8,000 handle. Volumes have been declining during the entire ‘rally’ which shows a lack of bullish enthusiasm, and potentially points...

Matt_Simpson

Twice over the past two days, we have seen USD/JPY break – yet fail to close above – 158. Which is what I warned of on Friday after the BOJ's meeting. And with US data beginning to roll over, a case for USD/JPY to top out could be building. A small shooting star formed on Tuesday, making it the second over three days and a double top around 158.30.

Matt_Simpson Updated 

I find it quicker to copy my web article content here for speed, and then rewrite it under the company account. I'm not sure of the minimum words required, but it needs at least a paragraph off text here for TradingView to allow you to publish the article.