21 day, 200 day MA and support, collide and support USDJPY ahead of 95
A perfect storm of support is in play on the daily UASJPY right under current price action. I have read in more than one place that 95 is “Do or Die” for the pair. I have little different take on the pair. I think 95 will almost certainly fail in taking 95 over the next few days, instead rising to 97.00 and maybe as high as 97.80 before falling and taking out 95.00. One other possible route could be a dip to 94.50 without a close below 95.00 and more sideways action before a fall to the 92.00 region.
NZDUSD falls ahead of .6816
When the pair reached .6811 heavy selling appeared and took price back down to as low as .6753. From there it has found support, but as mentioned in previous posts we may be stuck in a rut for a few more days or weeks. However, NZDUSD, AUDUSD and USDJPY are at or very near break out zones. With commodities on the rise, the first two are not surprising, even though the USDCAD is a bit further from breaking lower, and bounced off of 1.0800. Stay tuned, the game is just getting interesting.
GBPUSD runs higher before falling
The move to my target was nothing short of surprising, but I’ll take the $221.30 added to my account. (Current profits are not indicative of future results) I thought maybe the USD was going to take off last night. Instead it has lost ground overnight, taking the USDINX to as low as 78.24. In early US trade the buck has bounced, but it may not last too long.
USDCAD Profits
For the second day in a row, we opened with USDCAD profits.(Current gains not indicative of future profits) This time it was the lowest of the three candles that were opened on the move higher since Monday, accounting for the .88 cantes in roll. As I was writting, I had the GBPUSD trade close as well. I’ll detail that later.
