USD/JPY: Risks are to the downside
|USD/JPY – EUR/JPY
USDJPY topped exactly at first resistance at 105.65/75 & retests 105.20/10. We are getting oversold but no buy signal yet so risks are to the downside.
EURJPY reversed to our buying opportunity at 123.15/05 with stops below 122.85. We are holding over night but waiting for a bounce for profit taking.
| Scalping levels. | Target. | |
| AUDUSD | Potential double top sell signal in overbought conditions. |
|
| AUDUSD | scalping levels: 7130/20, 7030/20 – 30/40 pip turn |
|
| AUDUSD | buy a break above 7190 | 7235, 7260 |
| NZDUSD | selling opportunity at 6680/6700. Stop above 6710 |
6625, 6580 |
| NZDUSD | A break higher is a buy signal | 6710, 6750, 6775 |
| NZDUSD | buy 6630/25, with stops below 6615, target is 6650 |
|
| NZDUSD | buy at 6580/70 with stops below 6555 | 6615, 6640 |
| EURJPY | buying opportunity at 123.15/05 with stops below 122.85 |
|
| EURJPY | buying opportunity at 122.10/00 stops below 121.85. |
|
| EURUSD | Support at 1.1695/85, stops below 1.1670 | |
| EURUSD | Buying opportunity at 1.1645/35, with stops below 1.1615. |
|
| USDCAD | buying opportunity at 1.3360/50, stops below 1.3330 |
1.3400, 1.3420, 1.3440 |
| USDCAD | a break lower is a sell signal | |
| USDCAD | sell at 1.3485/95, stops above 1.3515 | 1.3440, 1.3410 |
| Gold | buying opportunity at 1909/07, with stops below 1902. |
1930 |
| Dax September | selling opportunity at 12900/930 with stops above 12980 |
12800, 12650 |
| Dax September | Best support at 12560/530. Stop below 12480. |
Daily Analysis
USDJPY trying a break below 105.20/10 targeting 104.90 then 104.60 & perhaps as far as 104.30/20.
First resistance at 105.65/75 held this morning. A break above 105.90 allows a further recovery to strong resistance at 106.15/25. Stop above 106.40.
EURJPY longs at 123.15/05 target 123.60/65 for profit taking. If we continue higher look for 123.90/124.00 before a retest of last week's high at 124.23/28. Obvious resistance at the June high of 124.42 coupled with the 200 week moving average at 124.70.
Try longs at 123.15/05 with stops below 122.85. A break lower is a sell signal initially targeting 122.45/35 with strong support at 122.10/00. Longs need stops below 121.85.
| Trends | |
| Weekly Outlook | Neutral |
| Daily Outlook | Neutral |
| Short Term Outlook | Neutral |
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