AUDUSD & NZDUSD Spot
AUDUSD failure to beat 7880 targets 7850 then first support at 7840/36 (a low just 3 pips below yesterday) for a little profit taking on any shorts. Look for a buying opportunity at 7818/12, with stops below 7790. Key to direction is obviously the main challenge for bulls at 7875/80. If you try shorts, stop above 7900 & reverse in to a long on a break higher targeting 7924/29 then 7970/75.
NZDUSD minor resistance at 7340/45 but above 7355 targets 7361/64 & 7380/84 before the 7430/35 high. First support at 7315/10 but below here targets 7290/85 before good support at 7250/45.
EURUSD & USDCAD Spot
EURUSD bottomed exactly at first support at 1.2320/10 & beat minor resistance at 1.2350/55 to top exactly at quite strong resistance at 1.2400/10 where we expected a high for the day. A break above 1.2420 required to retest the 1.2430/40 high last week. Above targets 1.2470 before very strong resistance at the 1.2545/55 high. Failure to beat quite strong resistance at 1.2400/10 targets 1.2375 then the best support for today at 1.2340/30. Try longs with stops below 1.2290.
USDCAD key to direction is important resistance again at 1.2980/1.3000. Try shorts with stops above 1.3020. Downside targets are 1.2935, 1.2910, & support from 1.2860/50 down to 1.2830/20 for some profit taking on shorts. A break above 1.3020 is a longer term buy signal targeting 1.3040/50 & 1.3120/30.
GBPUSD & GBPJPY spot
GBPUSD topped at the next target of 1.3990/95. A break above 1.4000 targets 1.4025/35 before the 2 week high at 1.4065/69. First support at 1.3935/30 but below here targets 1.3890 & support at 1.3855/45.
GBPJPY higher as predicted hitting all targets as far as strong resistance at 149.40/45. A break higher targets 150.00/05 then 150.70/80. We bottomed exactly at the 148.55/60 level on the pull back but below here meets better support at 148.35/30. On further losses look for a buying opportunity at 147.75/65, with stops below 147.40.
USDJPY & EURJPY Spot
USDJPY back down to support at 106.55/50. Try longs with stops below 106.20. Above 106.60 keeps bulls short term control re-targeting 107.10/20. A break above 107.30 is a buy signal targeting 107.45/50 & 107.80/85. Exit longs up to 108.30/40 & try shorts with stops above 108.80. A move below 106.20 risks a slide to 106.00 & 105.70/60 before the 105.28/23 low.
EURJPY buy signal on a break above the neckline at 132.00 targets 132.45 (missed by 3 pips yesterday), 133.00/05 & 133.40/50 for profit taking on at least half the position, 133.70/80 & finally 134.30/40. We should hold support at 131.90/70 but longs need stops below 131.30.
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