Falling channel: I noted price rallying within a falling channel in the last update. I also pointed out that since late January, corrections against the bearish channel have been between 90-100 pips. The latest pullback was about 150 pips. Alas, the pattern of under-100 pip retracement is broken.
Fan Yang | Feb 15 | FX Times
With its correction fading we look for USDJPY to return to the 94.45 level. Further out, resistance resides at the 95.00 level with a turn above here aiming at the 95.50 level followed by the 96.00 level and next the 96.50 level. On the downside, support comes in at the 93.17 level followed by the 91.70 level and then the 90.00 level and next the 90.00 level. A cut through there will aim at the 89.
Mohammed Isah | Feb 15 | FX Tech Strategy
The Aussie dollar took a turn higher in yesterday's domestic session following stronger than expected Westpac consumer confidence data
Chris Gore | Feb 14 | GoMarkets
Double Top: The 1H USD/CAD chart shows a completed double top that formed under the 1.0085 level, and had a base support at 1.0039. This double top opened up the previous resistance pivot at 0.9993, but has so far pulled back before reaching parity. It is back to test the bottom of the double top. If this market can hold under 1.
Fan Yang | Feb 14 | FX Times
The Euro climbed to a fresh weekly high of 1.3518 as industrial outputs in Europe increased 0.7% in December versus forecasts for a 0.2% print, while officials in Cyprus are talking down the risk for a bank-run even as the periphery country struggles to secure a bailout.
David Song | Feb 14 | DailyFX
The pair has returned above its broken support at 1.3403 level suggesting further upside gain could develop. If this occurs, expect EUR to strengthen further towards the 1.3577 level where a violation will aim at the 1.3710 level and trigger its medium term upside. This should force further upside towards the 1.3800 level with cut through here calling for a run at the 1.3850 level.
Mohammed Isah | Feb 14 | FX Tech Strategy
The Euro pared the overnight advance to 1.3465 as a growing number of European policy makers struck a rather cautious tone for the region, and the single currency may face additional headwinds over the remainder of the week as the economic docket is expected to show a weakening outlook for Europe.
David Song | Feb 13 | DailyFX
G7 shake: G7 made a statement about how currency exchange should be market-driven, but really wanted to focus on the "excess movement" in the yen. Whatever the interpretation is of these G7 statements and the upcoming G20 meeting, the market reacted by holding off JPY-weakness. USD/JPY fell immediately from about 94.45 to 93.25.
Fan Yang | Feb 13 | FX Times
After a pronounced period of decline last week and early yesterday, the USD-JPY pair bounced higher overnight ahead of the closely watched Bank of Japan policy decision on Thursday.
Chris Gore | Feb 12 | GoMarkets
As anticipated, much of the focus overnight was on the ECB policy decision, and judging by the Euro's response in the ensuing hours, it would appear President Mario Draghi has successfully navigated the Euro lower.
Chris Gore | Feb 08 | GoMarkets
Stop placement, target: A break below 93.00 could be a sign that this bullish outlook is not working, unless its a false breakdown. Otherwise, below 93.00 and these support factors, USD/JPY might actually be developing a more significant correction. For now the 94.00 level seem to provide resistance, but since the trend has been bullish, there is potentially a higher upside.
Fan Yang | Feb 08 | FX Times
The Euro slipped to 1.3451 as European Central Bank (ECB) President Mario Draghi struck a cautious tone for the region, and the short-term pullback in the EURUSD should turn into a larger reversal as the Governing Council shows a greater willingness to ease monetary policy further.
David Song | Feb 08 | DailyFX