AUD/USD lower to the next target of 6865/55 but a strong bounce from 6838 unexpectedly reached 6926. This only serves to emphasise the sideways trend, with a more positive hammer candle yesterday.
NZD/USD collapsed from resistance at 6215/25 hitting my next target of 6110/00 with a low for the day exactly here.
Today's Analysis
AUD/USD strong resistance at 6910/30. Shorts need stops above 6950.
Shorts at 6910/30 target 6865/55 and 6800/6780 this week. If we continue lower look for 6730/20 amd even the July low at 6690/80.
NZD/USD shorts at first resistance at 6225/35 worked on the slide to 6160/50 and 6110/00. Further losses this week (are likely) and retest the July low at 6070/60.
A high for the day exactly at first resistance at 6160/70, although first resistance is higher at 6180/6200 today. Shorts need stops above 6210. Strong resistance at 6240/50. Shorts need stops above 6265.
USD/JPY beat minor resistance at last week's high of 137.60/70 to target 137.95 and 138.25/35, before reaching 139.00.
EUR/JPY remains in a sideways short term trend.
NZD/JPY a low for the day exactly at first support at 8450/30 every day last week and this week.
Today's Analysis
USD/JPY meets key resistance at the July high of 139.20/40. Now we see if there is a double top in severely overbought conditions for a sell signal. Shorts need stops above 139.65. A break higher is a buy signal in the longer term bull trend initially targeting 140.60/80.
Minor support at 138.30/20 and again at 137.80/70.
EUR/JPY shot higher to 138.97. First resistance at 138.90/139.10. Shorts need stops above 139.30. A break higher is a buy signal targeting 140.40/50, perhaps as far as 140.85/95.
First support at 138.00/137.80. Longs need stops below 137.55.
NZD/JPY first support yet again at 8450/30. Keep scalping it until it breaks! Longs need stops below 8400. A break lower targets 8340/30.
Longs at 8450/40 worked perfectly on the bounce to my targets of 8480/8500 & 8550. A high for the day exactly here. Further gains look likely towards 8610/20 with resistance at 8630/50.
