Technical Analysis

FX Daily Majors

Today’s highlights: – USDJPY: Approaching the 78.6% Fibonacci retracement hurdle of 82.68. Overextended to the upside, and thus we look for a correction back towards 81.13 before we target 84.19.

Daily Market Technicals

EUR/USD: Breaks Above 1-Month Resistance Line. Euro has broken above the 21-day moving average and also a 1-month resistance line, with break above $1.2876 seen triggering further short-covering.

Technical Analysis

Again an initially weak euro later turning bid, leaving us with downside spikes in EURUSD, EURGBP and more.

Global Technical Watch – EUR/JPY on the coattails of USD/JPY

Around the US Thanksgiving holiday, we expect a subdued trading session. However, several JPY-bearish signals are already cast in stone, and the risk is for further JPY weakness into year end.

Asian Currencies Technicals

AUD/USD: Choppy Trading To Continue. The AUD/USD continues to trade in a choppy fashion and needs to manage close above the Nov 20 highs to re-ignite topside focus.

USD/JPY: Fading From Y82.52 Fibonacci Level. USD suffering a fade around Y82.52 (76.4%) of Mar-Sep decline. In addition, price action is trading above the 2.00% moving average envelope, which is seldom sustained.

EUR/JPY Analysis

EUR/JPY: Bulls In Control, Weekly Ichimoku Cloud Top Eyed. Bulls remain in control following break above April resistance line with price action now nudging above the daily Bollinger band top and projected resistance line from June 21.

FX Daily Crosses

Today’s highlights: – EUR/GBP: Removal of .8009 support hints at a top, and allows the market to revert lower, back towards the .7961/0 support zone. Below here is needed for a greater top.

FX Daily Majors

Today’s highlights: – USDJPY: Aggressive acceleration through 81.49 retracement resistance sets up for further gains higher to the 78.6% retracement of 82.68 and then the key neckline of 83.09.

Technical Analysis

EURUSD just steered sharply south from favored 1.2820\30 resistance. 1.2690 is next key ref below to be watched…

Global Technical Watch – A second wind for USD/JPY

Following its recovery above the daily cloud in October, USD/JPY embarked on a strong uptrend consistently throwing bullish signals along the way.

Daily Market Technicals

EUR/USD: Strong Resistance Noted At $1.2826/40. Strong topside resistance come in at $1.2826/40, where forme is the 21-day moving average and latter is the value of the 1-month resistance line.