Shorting Early Week Strength in Yen Crosses
Daily Technicals (all USD crosses, gold, crude)
FOREX Trading and Technical Analysis Observations
The EURJPY, CHFJPY, AUDJPY, CADJPY, and NZDJPY carved out Weekly J Spike Reversals. As such, I’d like to short early week strength in Yen crosses. Levels of interest as resistance are 12556-12606 EURJPY, 10208/45 CHFJPY, 9628/55 AUDJPY, 9325/54 CADJPY, and 7819/48 NZDJPY.
My trading will focus on EURJPY and AUDJPY but AUDJPY is probably the best play as per EURAUD structure (bullish) and AUDUSD structure (bearish). On that front, I’ll be looking to return to a long EURAUD position this week – I’d like to see an up day above trendline support before going back in.
EURJPY –240 Minute
Prepared by Jamie Saettele, CMT
AUDJPY –240 Minute
Prepared by Jamie Saettele, CMT
EURAUD –Daily
Prepared by Jamie Saettele, CMT
--- Written by Jamie Saettele, CMT, Senior Technical Strategist for DailyFX.com
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