In this video, the Trader Guy looks at the currency pairs, USD/JPY and AUD/USD for the July 15th session.
USD/JPY — As you can see that we did break above the 105.00 level, that was a pretty crucial area. It was previously resistance and now we have broken above there. A break above the top of the range on Thursday, it is time to start going long. Pullbacks at this point in time will more than likely be supportive as well. Because quite frankly, there is a real fear that the Bank of Japan intervening either through the stimulus or currency manipulation. The 103.00 below should be rock solid for support.
AUD/USD — It looks like we continue to grind and that is the key word here — grind higher. I think there could be a bit of a soft floor somewhere near 0.7500. I am not willing to risk too much in this market. Even though I recognize that it is going to go higher, there are a couple of things working against it though. Although Gold is grinding higher, it is typically good. We have to worry about Asia and global growth in general. So, I think the Aussie is going to perform to the upside, but very grindingly. So, I just don’t see any sizeable trade here, that you want to hang on to.
© Prabhu for Forex Videos, 2016. |
Permalink |
No comment |
Add to
del.icio.us
Post tags: AUD/USD, technical analysis, USD/JPY
Feed enhanced by Better Feed from Ozh
Disclaimer: Please note all prices are for information only, they should not be relied upon for accuracy or trading. All prices quotes are based on CFD prices and are similar though not always identical to real exchange prices. STOCKTRKR or anybody connected with STOCKTRKR will not accept any liability for loss or damage arising from use of any information/commentary/charts or articles which is provided 'as is' for educational purposes only, nothing contained on this website should be considered as investment advice - please seek proper investment advice from registered financial broker or institution if you wish to trade on global markets and ensure you are familiar with the risks.
