Believe I'm not the first to say this but EURJPY has closed below the bottom of daily cloud yesterday.
Tenkan and Kijun-sen both points bearish for the pair.
The red descending TL also suggests pair might be heading for the sub-140 region.
Coupled with the current market risk off sentiment and holding the opinion that a reversal in USDJPY is more likely than one...
USDJPY has fallen significantly especially after round figure 120 was breached.
118.70 is top of daily cloud, Kijun-sen level, and approx the half-way mark of 121.84-115.55 descend - potential support.
As chart,
Buy at 118.70
SL at 116.85
TP at 121.70
For a risk-reward of ~1.6x
Potential demand zone around 181.40/60. Coincides with previous lows, 61.8% of Q4 2014 HL Fib, and top of daily cloud. SL would be placed at 178.80 - monthly S/R line and bottom of (thick) daily cloud.
Long at 181.50
SL at 178.80
TP1 at 186.50
TP2 at 189.50
Risk-reward about 1:2
Short at 96.85 (on demand after better than expected trade balance)
SL at 97.40
TP at 96.00
Risk-reward ~1.5
Risk aversion has prompted JPY appreciation across the board in the first week of this year.
For AUDJPY, it meant a decisive break down of the daily cloud and pair is currently,
1. Trading below cloud
2. Tenkan has cross over Kijun-sen
3. Trading below...
Entered Long GBPAUD at 1.83295 (200-Hour Smoothed MA and also 23.6% of 1.72134-1.86828)
Fundamental:
With BoE minutes/ RBA Speech/ Australia CPI inflation coming out, volatility should ensue.
USD weakness has caused both GBP and AUD to be at elevated levels. Feels AUD more so after better than expected China GDP, IP, etc. numbers.
Technical:
AUDUSD has been in...
Entered EURCHF long at 1.2060 (76.4% of Sep H-L fib level - 1H bars seem to be adhering generally albeit with occasional false breakouts)
1.2050 was previous bid zone - triple bottom from Sep 14 onward
Also market seemed to established the floor since Q4 2012 after SNB's 1.20 commitment
Target 1.2110/20 area - between top of daily cloud (1.2110) and previous high...
- YTD AUDJPY bull trend still intact
- Spot close to 200 DMA (94.5693) on global de-risking which started after FOMC minutes
- Has to do with very positive US Jobs data earlier tonight, believe Aussie shorts might go for cover (again) as happened in the recent days.
Put a bid at 94.57
SL at 93.80 (slightly below low of 8 Aug at 93.917)
TP at 95.78 (around area...
