FX Trading News & Strategies from Australian Stock Report
The bias for the EURUSD is bearish. The shorter-term EMAs have crossed lower and are diverging, and the price action has extended away from the longer-term EMA filter, which is negative. The price action is also on the verge of breaking down below a key horizontal level which, if breached, could induce further [...]
Since topping out at 84.00 in mid-March, the USDJPY has rolled over, presently trading towards 80.00. The shorter-term EMAs have crossed lower and the price action is on the verge of slipping below the longer-term EMA filter. The last completed daily candle is a bearish pin bar, which is often a precursor for lower prices [...]
The bias for the USDJPY is neutral to bearish at this time. The recent pullback phase is still playing out, with the price action yet to confirm support. Below the current market price, the initial support zone is noted in the 80.50-60 region and a move below this area would be another bearish sign. If [...]
The bias for the USDJPY remains bullish. The uptrend is still intact in the short-term and this will remain the case as long as the price action stays above the 80-80.20 region. The targets above the current market price are noted at 82.25 initially, followed by 84.20.
The move above the 78.20-40 resistance region should have bullish implications for the USDJPY over the next few weeks. The next horizontal technical levels are noted at 79.50 initially, followed by 80.30, and these naturally become the target regions. Below the current market price, support is noted at 78.00 initially. The price action should not [...]
Save for when the Bank of Japan has intervened, the last few months have seen very lacklustre price action on the USDJPY pair. Whilst the interventions caused seismic shifts, the residual effect is that traders have been shying away from this pair because of the potential for further interventions. Subsequently, it is very difficult to have a [...]
Heading into the new trading week the key area of focus for the USDJPY is 78.35. If this region is cleared by the bulls, it could open up a pathway into 79.50. Conversely, if this region cannot be cleared then a rotation lower is the more likely outcome, back into support in the 77.20-50 region. [...]
The USDJPY has come under renewed selling pressure since topping out at 85.50 in mid-April. Technically, we note a series of lower highs and lower lows which have formed a short-term downtrend. The shorter-term EMAs are crossed lower and the price action is below the longer-term EMA filter, which is negative. The pair is now [...]
The unresolved US debt crisis has resulted in a steady decline in demand for US dollar against the Japanese yen. The bearish sentiment saw the USDJPY fall significantly from its early-April peak around 85.50, to currently be trading around 78.00. Should the 78.00 region be taken out by the bears, we could see an accelerated [...]
USDJPY Currency Trading News: September 13
Persistent concerns about the state of the global economy have resulted in increased demand for the Japanese yen as compared to its US counterpart. The bearish sentiment saw the USDJPY fall significantly from its early-April peak around 85.50, to currently be trading around 77.00. Should the 77.00 region be taken out by the bears, we [...]