After a nasty Asian fake out rally in risk, S&Ps are going to open gap down (at this point futures are down 7.25). Yen and USD crosses are at/nearing levels that may produce a decent intraday bounce in early US trade.
Afternoon Technicals (all charts)
Other TA (crosses, COT, etc.)
FOREX Trading and Technical Analysis Observations
After a nasty Asian fake out rally in risk, S&Ps are going to open gap down (at this point futures are down 7.25). Yen and USD crosses are at/nearing levels that may produce a decent intraday bounce in early US trade.
-EURUSD-is at the top of estimated 12650/90 support. 12690 is the late June pivot high. 12650 is the JS Thrust day close from that same day (12653 to be exact on 6/29). 12651 is the 9/6 high. Initial resistance for Friday is 12730.
-USDJPY-has traded into and responded extremely well to the area just below the former 4th wave (7927). As long as price holds 7892, respect bullish potential. Initial resistance is 7940.
-EURJPY-is testing the 38.2% retracement of the rally from the July low. 10015/19 is also potential support. Initial Friday resistance is 10100.
EURUSD – Daily Bars
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Prepared by Jamie Saettele, CMT
USDJPY – Daily Bars
Image may be NSFW.
Clik here to view.
Prepared by Jamie Saettele, CMT
EURJPY – Daily Bars
Image may be NSFW.
Clik here to view.
Prepared by Jamie Saettele, CMT
To contact Jamie e-mail jsaettele@dailyfx.com. Follow me on Twitter for real time updates @JamieSaettele
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Jamie is the author of Sentiment in the Forex Market.
This article (FOREX Technical Analysis: USDJPY Responsive to Key Support) was originally developed by and is property of American Banking News. Checkout American Banking News for up-to-date banking news and peer to peer lending news.
