Afternoon Technicals (all charts)
Other TA (crosses, COT, etc.)
FOREX Trading and Technical Analysis Observations
AUDJPY-formed a JS Spike on the weekly and once again failed to close the week above the 61.8% retracement of the decline from the March high. Last week was the 6th week since June that price traded above the Fibonacci level but failed to close above it. The level is clearly one of importance. Near term resistance is 8328.
CADJPY-failed its 6th attempt since September to close the week above Fibonacci resistance. Price also formed a JS Spike on the weekly. CADJPY weakness from the top displays the cleanest impulsive behavior of any Yen cross decline. Resistance is expected this we at 8025/40.
EURJPY-is holding the 38.2% retracement of the rally from the July low. 10015/19 is also potential support. 10214 is now resistance.
AUDJPY – Weekly Bars
Prepared by Jamie Saettele, CMT
EURJPY – Daily Bars
Prepared by Jamie Saettele, CMT
CADJPY – Weekly Bars
Prepared by Jamie Saettele, CMT
To contact Jamie e-mail jsaettele@dailyfx.com. Follow me on Twitter for real time updates @JamieSaettele
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Jamie is the author of Sentiment in the Forex Market.
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