Resistance: 98.43 moderate / 98.68 moderate / 98.84 minor
Support: 98.05 moderate / 97.83 moderate / 97.48 minor
Following reports of the US likely hitting its deficit limit by October, USDJPY saw a sell-off after an earlier wipsawish trade as global equities sold-of for good. We now have prices inside the daily EMA lines while stochastic has come-off overbought levels and the macd’s have slipped back under the zero line though waiting for a bear cross. Note his is a follow through to our rejection from the bearish trend line off July 7 highs. Intraday we are seeing a confluence of bears the 4H stochastic pushing into oversold areas while macd is also heading lower. Hourly charts for their part has a confluence of bears as well with stochastic in oversold areas and macds heading lower. Given the sell-off in equities we prefer looking for shorts on a close under 98.03 or coming off the daily pivot at 9.43.
Resistance: 153.37 moderate / 153.73 moderate / 154.01 minor
Support: 152.76 moderate / 152.12 moderate / 151.74 minor
After a roller coaster session we ended down with a bearish Sen candle as Yen pairs sold-off across the board late in US trading. Among indicators we have a bearish divergence from daily stochastic while macd is topping off. Note we have had an ongoing mean reversion from Friday highs with its ‘dark cloud cover’. In 4H charts we have stochastic looking to push back into oversold territory while macd is also heading lower, looking to drop below the zero line. Hourly charts has stochastic in oversold areas while macd also has a new bear cross. Immediate risk calls for a bear market though we prefer looking for a rejection from 153.37 the daily pivot.
Resistances: 131.52 minor / 131.95 moderate / 132.42 moderate
Support: 131.05 moderate / 130.71 moderate / 130.27 minor
Along with the rest of the Yen pairs EURJPY saw a sell-off as US equities tanked late in the trading day on US deficit concerns. Given the prior gap between prices and the daily EMA lines we may now be seeing a mean reversion. Indicators has daily stochastic coming off overbought levels while macd is also topping off. In the lower time-frames we have stochastic pushing oversold while macd is also heading lower from the 4H picture, this as hourly charts has stochastic beginning to crawl oversold areas while macd is also under the zero line heading down. We prefer looking for shorts on a close under the 131.05 support area. Alternatively a sell-off in Asian equities and European indices can also be used as a trigger for jumping short.
Resistance: 0.8984 moderate / 0.9006 minor / 0.9038 moderate
Support: 0.8960 minor / 0.8931 minor / 0.8884 moderate
After a brief spike to the daily EMA lines we have Aussy ending with along wick in the daily charts reinforcing the notion of a resumption of the bear market. Note we have prices under the daily EMA’s while indicators for now show mixed signals as stochastic come’s off oversold levels while macd is dropping. In 4H charts we have stochastic pushing for oversold levels while macd is also in the process of seeing a bear cross while under the zeroline. Hourly charts for their part has stochastic oversold and macd’s also dropping. Given the daily candles we prefer looking for a bear market consider shorts from just under the 8984 region, S1 in daily pivots.
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