Greetings everyone….let’s look at a few pairs that are clear to me as to what they are going to do….
Fast trade CAD/JPY
Cup and Handle, higher highs and higher lows? Call it what you like, but weakness in JPY is expected to lead this pair very soon 50-100 pips higher….
Price is challenging medium-term resistance now at 106. Break it we could see a big rally in USD/JPY…
My system has turned bearish this morning around 1.4180.
I believe we will see another leg lower as yesterday towards 1.40.
Earlier this morning price broke above the wedge pattern but has pulled back inside….In general I believe this pair is ready for a break higher towards 1.30-1.3050, but we could stay inside the trading range of the wedge 1.29-1.28 for another day or two.
In general I favor Dollar strength over the coming days…..good luck to all…
Disclosure: None of the information or opinions expressed in this blog constitutes a solicitation for the purchase or sale of any security or other instrument. Nothing in this article constitutes investment advice and any recommendations that June be contained herein have not been based upon a consideration of the investment objectives, financial situation or particular needs of any specific recipient. Any purchase or sale activity in any securities or other instrument should be based upon your own analysis and conclusions.