After taking a short break for the Christmas, two of the JPY crosses have given signals to resume their uptrends - EURO JPY and USD JPY. The USD JPY had already given a signal on the Daily Chart with a break of resistance of the Pennant at 103,35, corresponding to Support connected by 101.61 and 102.49. This has been followed by a bullish break of a 4H range to indicate the continuation of the uptrend. The next major target to be hit should be the 110.65 Resistance formed in 2008 August. Entry t…
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NFP Provides Strong Entry Signals
Stronger NFP numbers in the US helped to lift risk-appetite among investors, sending the Japanese Yen lower against higher-yielding currencies such as the NZD, USD, and EURO. The day also saw other pairs provide strong signals to indicate their direction over the next few days.
EURO JPY looks set to continue its breakout with a strong Bullish Candlestick Formation on its daily chart, that is part of the sharp breakout from its Consolidation (Resistance 135.00, Support 131.20). If the bullish bre…
EURO JPY looks set to continue its breakout with a strong Bullish Candlestick Formation on its daily chart, that is part of the sharp breakout from its Consolidation (Resistance 135.00, Support 131.20). If the bullish bre…
JPY Crosses
Both JPY pairs opened yesterday became unexpectedly volatile, leading to losses. One reason for this is that there is a simply a temporary sideways movement taking place before the breakouts resume their uptrends. Once another strong set of signals appear to go long, it could be another opportunity to garner some pips to recoup the losses incurred.
The same situation appears to be happening on the AUD CHF which has also broken its Pennant pattern. The currency has pulled back in favour of the A…
The same situation appears to be happening on the AUD CHF which has also broken its Pennant pattern. The currency has pulled back in favour of the A…