• After coiling and failing to break above the June ’15 trendline, JPY is attempting to break the March trendline.

  • The bias is for a move towards 111.38 whilst 113.24 caps as resistance.

  • Expect the pair to be sensitive to today’s NFP report and any US-China trade headlines.




  • A bearish breakout has invalidated a bullish channel.

  • We’d like to see prices consolidate before its next leg lower. Look for 84.61 or the lower trendline to cap as resistance.

  • A break beneath 83.63 brings the 82.17 and 80.54 lows into focus. Keep an eye on CAD employment figures alongside NFP.




  • Near-term momentum favours bullish setups within the ascending channel.

  • However, a stronger downtrend has dominated momentum since a bearish pinbar high.

  • Target the 114.41 high or upper trendline whilst within the channel or wait for a break of 112.86 to confirm resumption of its downtrend.


This research is for informational purposes and should not be construed as personal advice. Trading any financial market involves risk. Trading on leverage involves risk of losses greater than deposits.

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