AUDUSD we will stick with buying at support until it looks like we have a sell signal. Good support at 7065/60 (although we did not reach here yesterday). Longs need stops below 7045. Target is 7115/20 then 7160/65.
A break below 7045 however risks a slide to to strong support at 7010/00. Longs need stops below 6985.
NZDUSD trading in a range between my 2 levels with resistance at the December/ January high at 6515/30 & first support at 6450/40. Longs need stops below 6430. A break lower can target support at 6400/6390. longs need stops below 6375.
Longs at 6450/25 can target 6495 before resistance at 6515/30 again today. Stop above 6850. A break higher is a buy signal. Use 6530/20 then as support, targeting 6610/20.
AUDJPY longs at 9200/9180 worked perfectly as we held a low of 9160 after the bullish breakout buy signal & we shot higher to my target of 9280/9300 for a quick 80 pip profit. We can try this trade again today.
Be ready to buy a break above 9300 looking for 9400 for profit taking.
USDJPY shorts at first resistance at 130.70/90 worked perfectly as the pair quickly collapsed to my target of 129.35/15, although we only reached 129.48 as I write over night. Still a nice 100 pip profit. A bounce from is possible this morning but a break below 129.00 can target 128.80, perhaps as far as 128.40/30.
Any recovery meets strong resistance again at 130.70/90. Shorts need stops above 131.15. A break higher should target 132.40/45, perhaps as far as strong resistance at 132.70/133.00. Shorts need stops above 133.30.
EURJPY in a 1 month sideways range with upper trend line resistance at 142.60/80 & lower trend line support at 138.40/20. Not much else I can say at this stage.
NZDJPY shorts at strong resistance at 8460/80 worked perfectly this week hitting my targets of 8400/8390 & 8355/35 for up to 100 pips profit.
A bounce seen yesterday as expected & we meet strong resistance again at 8460/80 today. Shorts need stops above 8520. A break (& weekly close for confirmation) above here is a buy signal & can target 8590 then 8630.
A break below 8330 risks a slide to towards strong support at the lower end of the range at 8100/8080. Longs need stops below 8050. A break lower is a sell signal initially targeting 7960/40.
EURUSD struggling to make gains this week as we approach 4 month rising trend line resistance at 1.0980/90 in severely overbought conditions. A break above here however is a buy signal targeting 1.1080/90.
Minor support at 1.0870/60 then strong support at 1.0830/10 – longs here today need stops below 1.0800. Targets are 1.0860, 1.0880, perhaps as far as 1.0910.
USDCAD breaks short term trend line support at 1.3340 so holding below here is a sell signal & we can target 1.3230.
EURCAD longs at at 1.4550/30 were stopped below 1.4510 so holding below resistance at 1.4540/60 targets 1.4490/80, perhaps as far as 1.4430/20.
Shorts need stops above 1.4600.
GBPUSD trades sideways with an unexpected recovery to 1.2418. Now I must wait to see if we break above 1.2455 for a buy signal for this week.
Or wait for the sideways trend to develop so I have some tradeable levels.
