FX weekly: 14 currency pairs levels and targets

Minimum wages in Tokyo run currently 961 JPY and X 40 hour work week = 38440. Workers received a 5% increase to 1009.05 and 1009.05 X 40 = 40362. Minimum wage workers received an extra 1922 JPY per week.

1 Pack of Marlboro cigarettes costs $4.03 USD or 600.67 JPY. The 5% increase allows workers to purchases an extra 3 packs of Marlboros per week, 12 packs per month and 144 packs per year.

The problem with such a luxury as cigarettes , 1 gallon of Gasoline costs 4.24 USD or  631.96 JPY. The minimum Wage worker earned an increase of 3 gallons of gasoline per week by a 5% increase in wages. Subtract 2% Inflation and add 3% to wages, the worker now has 989.83. At an increase of 28.83, the worker can't afford an extra gallon of gas.

Only 1 central bank meets this week as the General of the Roman army while remainder central banks are the foot soldiers in accordance to act by Fed dictates.

All central banks contain high and overbought interest rates Vs low and oversold Inflation rates. Powell failed to act when required and all central banks followed the Fed to the edge of the cliff. To drop interest rates raises Inflation. Raising interest rates would drop Inflation but central banks aren't prepared for such an event. To not touch interest rates leaves Inflation on its own while  GDP and money supplies remains dead on the floor.

The central bank world of interest rates vs Inflation sits in paralysis. No concept to data dependency exists as interest rates and Inflation is the only data.

Watch the RBNZ as most vital. The RBNZ contains the highest interest rates Vs the lowest exchange rates. The RBNZ forecasts 2 to 3 interest rate drops to right at 4.75 from 5.50.

We will show the RBNZ concepts this week as the data is now available.

The usual advice, pay attention to correct moving averages and the week will become profitable.

Weekly

USD/JPY last week broke 148.44 and traded 70 pips to 149.14. USD/JPY begins the week overbought and targets 148.23 then the break at 148.02.

I don't see any movements from the BOJ however here's vital levels:

151.47, 150.72, 150.03, 149.72, 149.37, 149.12, 148.83 Vs 148.23, 147.93, 147.25, 146.52.

USD/JPY Overbought and shorts begin at 149.28.

GBP/USD Target last week at 1.2719 traded to Friday lows at 1.2719. GBP/USD ranges this week from 1.2661 and 1.2674 to 1.2808, 1.2819 and 1.2828. The 5 year average is located at 1.2819 and slowly dropping every week. Below 1.2661 targets 1.2594 and 1.2583.

EUR/USD last week shorts target: middle 1.0800's.  The path downward = 1.0945, 1.0926, 1.0917, 1.0871. EUR/USD traded Friday at 1.0872.

EUR/USD overbought this week begins at 1.0924 and 1.0934 to target 1.0870. Break 1.0859 targets lower.  The 5 year average remains at 1.1137.

EUR/USD and GBP/USD trade overbought while oversold to NZD/USD and AUD/USD.

AUD/USD higher must break 0.6565 and NZD/USD 0.6118. Long at the lows is the only way for the week.

GBP/JPY targets 188.28 and 188.08 for the week. Shorts begin at 190.01.

EUR/JPY Begins the week overbought and targets low 160.00's easily.

CAD/JPY from last week traded to 110.29 from the break at 109.79 as written. CAD/JPY shorts begins at 110.28 and 110.35.

GBP/CAD traded to tops at 1.7340 and 1.7342. From March 7, top at 1.7398 and 5 year average at 1.7372. GBP/CAD targets 1.7102 and 1.7027. Lows last week achieved 1.7204.

GBP/CAD lows this week targets 1.7179 and 1.7149. Overbought EUR/CAD targets 1.4683.

GBP/NZD the path short = 2.0866, 2.0829, 2.0791, 2.0754, 2.0735. EUR/NZD trades massive overbought along with GBP/NZD and wil follow GBP/NZD much lower this week.

GBP/AUD overbought will follow GBP/NZD lower while EUR/NZD tracks alongside EUR/AUD.

The EUR Universe trades overbought to EUR/USD, EUR/JPY, EUR/CHF, EUR/CAD, EUR/NZD, EUR/AUD.

Same story in the GBP universe.

What trades this week, same as last week and the week before.