Candlestick Daily: Aggressive USD/JPY Sell as Trend Line Broken

January 8, 2013 by stanh
Filed under FX News

CURRENCY	CURRENT BIAS	POTENTIAL STRATEGY
EUR/USD (Short Term)		Yesterday’s rally stalled out against Monthly Pivot resistance (1.3126); see full report for more details
GBP/USD (Short Term)		Closely watching near-term support at 1.6080, resistance at 1.6125 and 1.6180.
USD/JPY (Short Term)		Sell if USD/JPY bounces to 87.60, stop at 88.10, target at 86.85. See full report for more details.
USD/CHF (Short Term)		Moving sideways along key support at .9200, room for a quick drop down to .9175 if broken
USD/CAD (Short Term)		Early European session drop leaves rates just above key .9830 floor, looking for buying opportunities on bullish price action
AUD/USD (Short Term)		Still consolidating around 1.05 round handle, see full report for more details
NZD/USD (Short Term)		Trade in progress: Bought NZD/USD at .8369, stop at .8340, target at .8395