Forex Charts
USDJPY – wave-(4) support zone is 107.52/39
Strong support is surfacing between 107.52/39 anchored by the latest consolidation high from mid September.
FX Daily
German trade data for August are due for release this morning and focus will be onwhether the solid increase of 4.8% m/m in exports in July marked the bottom.
USDJPY – triangle negated but a-b-c decline satisfied at 107.83
Our bull triangle interpretation was invalidated with yesterday’s move below 108.01 but the decline from
GBPUSD – wave-(b) target hits ideal level; now wave-(c) higher to 1.65/66
Sterling nailed the wave-(b) target by extending to 1.236 x wave-(a) which is an ideal move.
USDCAD – to 1.1230 then correction to channel support below 1.10
So far the bearish reversal from 1.1270 is holding and can promote a still deeper decline.
USDJPY – wave-4 triangle unfolding; wave-d up targets 109.50s
Thursday we proposed the idea of a bullish triangle consolidation to mark wave-4.
EURUSD – bullish reversal supports wave-4, countertrend correction
The Friday/Monday reversal in Euro was a strong signal that prices are attempting to mark a near-term bottom.
FX Daily
US non-farm payrolls take centre stage. We expect a rise of 250k, higher than theconsensus estimate of 218k.
EURUSD – 3-wave correction suggests downtrend still unfolding
We could argue that wave-v of (v) down has been satisfied as the proper divergences are in place.
AUDUSD – bullish hammer reversal at critical .8660 level
Aussie bounced right off major .8660 support and formed a bullish hammer candle; on the 240min chart below there was bullish engulfing.
USDJPY – sharp drop can be wave-a of triangle consolidation
We sent out a Tech Flash yesterday to highlight a prospective wedge break and prices dropped accordingly.