CADJPY 4 HOUR

Market Update 2/21 – Yen Crosses Lower?

ByJamie Saettele

CADJPY 4 HOUR

CADJPY is nearing the bottom of the 2022 range.  Weakness below the 1/24 low would leave a series of lower highs and lower lows since the January high although 2 legs down from that high is possible support at 89.12.  The bigger level is the 161.8% extension, which intersects the lower parallel of the channel from the March 2020 low at 87.55.  90.40/60 is resistance.  A zoomed out chart is below.

CADJPY 4 HOUR

AUDJPY DAILY

AUDJPY has been pressing against the upper parallel of the channel from the October high for the last few days, leaving long upper wicks in the process.  Risk on a short position at the current level is small (over recent highs).  Near term downside focus is the center line of the channel and line that extends off of the August and December lows near 79.50.

EURJPY DAILY

EURJPY action since May 2021 is a contracting triangle.  The 2/10 high was right at the upper barrier of the triangle and near term focus is on the lower barrier near 128.80…this is also 2 legs down from the 2/10 high.  Proposed resistance is the year open at 130.90.

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Market Update – September 14

ByJamie Saettele

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Market Update – July 16

Market Update – July 16

ByJamie Saettele

EURUSD traded 1.1452 today before reversing and closing near the low of the day. The high is right on the upper parallel of the channel from the March low. The line off of the September 2018 and March highs also reinforces the area as resistance. I’m of the mind that today was a high and now wish to trade from the short side. ECB is tomorrow. I’ll wait until that’s out of the way before determining entry.

Market Update – June 18

Market Update – June 18

ByJamie Saettele

Today was extremely quiet and as a result I don’t have much to update. Australian employment is tonight however so it’s worth another look at AUDUSD. If the flat interpretation is correct, then a lower high is in place at .6977 (and price shouldn’t move much above .6900). The ‘cleanest’ downside level is .6685-.6700. This has been a major level since July (almost a year), 2 equal legs down, and the 200 period midpoint on the 4 hour chart (magenta line).