Risk sentiment failed to recover so far with Nikkei falling in the early morning and European markets opening weak. USD/JPY is breaking below the trendline (area) drawn off of 2012 and 2016 lows. 2017 low (107.30) is another strong support area to watch. The pair looks a bit oversold in the very short term but a successful break could easily mark a couple of big figures to the downside.
Community Blog
Aussie testing the long term trendline
Technical Tools
Support and resistance (S/R). Price levels, trendlines and Fibonacci retracements. Price action, candlestick and chart patterns. Simple moving averages (SMA). Commitments of traders (COT) indicator, which displays speculative positioning in FX futures market, used as a proxy for speculative positioning in spot FX market.
Weekly Chart
Aussie's attempt to crack strong supply zone between 0.77 and 0.785 was deflected by the intersection of 2013 - 2016 trendline and 2011 - 2016 suppo…
Support and resistance (S/R). Price levels, trendlines and Fibonacci retracements. Price action, candlestick and chart patterns. Simple moving averages (SMA). Commitments of traders (COT) indicator, which displays speculative positioning in FX futures market, used as a proxy for speculative positioning in spot FX market.
Weekly Chart
Aussie's attempt to crack strong supply zone between 0.77 and 0.785 was deflected by the intersection of 2013 - 2016 trendline and 2011 - 2016 suppo…