Market prepared few interesting setups for today – where we can look for positions to enter the trade. We will analyze currency pairs which gave the most promising signals – AUD/JPY, EUR/JPY, EUR/USD, NZD/USD and USD/JPY:
AUD/JPY:
Cross rebounded from support near 93.00 and is consecutively increasing since 2 weeks. It still has around 100 pips to reach the key resistance, which blocked further increases in the past. If clear PA sell signal occurs in its vicinity, it will be good to open short positions. Looking for trend confirmation just wait for breaking that key resistance and testing in from the top.
EUR/JPY:
Single currency to Japanese yen reached resistance level. Mid-term trend may be considered as downward, thus south positioning will be reasonable. You can search for signal on H1 and H4 charts. The first target in the vicinity of support zone (138.60).
EUR/USD:
EUR/USD did not surprised and behaved as investor thought, rebounding from the resistance. The trend here is clearly downward, so it is worth to consider short positions. Howerver, currency pair still was not able to break lows (from end of the May).
NZD/USD:
Kiwi confirmed its weakness yesterday, after breaking the last support – now there will be huge slippages on the pair. It is worth to observe a clear re-test of earlier support (which now is a resistance) from below. Those are the best opportunities to open trend-following positions, with confirmation of key levels and – what is more – with small S/L.
USD/JPY:
The third session in a row where USD/JPY is increasing. Currency pair reached really important resistance level and sell signal from lower timeframes may be used for short positioning. Howerver, if the price does not break the zone, the next key level will be found around 100 pips higher. Then, it is possible to consider long positions – of course after former resistance test, which will confirm its role on the chart.
