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USDJPY 1 HOUR CHART – LIQUIDITY?
USDJPY continues to be the most volatile currency as can be seen on this chart, where the one hour candle had a range of 146.53-145.84 (in the absence of news) with a close at 146.33 IN WHAT HAS BEEN STILL AN INSIDE DAY.
Whatever the case, this follows yesterday’s range of 148.05-145.18– close at 146.71
I am not sure what this suggests other than pockets of less liquidity.
Use short-term charts to trade this currency.
This is the latest update from a long time, highly respected Global-View member who called the top at USDJPY 162. I thus nicknamed him the savvy trader who has been kind enough to share his latest view and strategy.
The Latest USDJPY Update From the Savvy Trader
EURUSD 4h
Resistances : 1.10750 , 1.11350 & 1.11650
Supports : 1.10550 , 1.10400 & 1.09950
It needs to take out 1.10750 to be able to continue up in this very wave.
Failure would call for a correction , but it can be more time consuming then real downward one.
1.10550 is most important for that scenario to hold.
Channels are pretty clean, so make your own conclusions.
EURGBP 4 HOUR – BOUNCE FROM .8500
Whatever order flow that was driving EURGBP lower has apparently been filled and this has seen a bounce from just above .8500.
This has helped give EURUSD a bid after lagging due to selling in this cross.
Currently testing .8530, a break above would end the latest leg down.
Trendline is the key level above it.
USDCAD DAILY CHART – WEEKLY FX OUTLOOK AND CHART POSTED OVER THE WEEKEND
(NOTE, LAST TRADE AT 1.3666)
Trading in the background and more of a laggard than a leader.
Top is in, can it reverse to a downtrend?
Current focus is on a range around 1,.37, which will dictate whether it can go after 1.3656 and below.
On the upside, back above 1.3740-50 would be needed to shift focus back to 1.38.
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