i POSTED THIS IN OUR BLOG A FEW MONTHS AGO AND IT IS A GOOD GUIDE TO TRADING DURING A GEOPOLITICAL CRISIS
GBPJPY 1 HOUR CHART – PATH OF LEAST RESISTANCE
arket following the path of least resistance selling JPY, which is on its crosses where there is less chance of intervention.
GBP (along with AUD) has been the outperformer so far today (note EURGBP is lower as well)
The key level is clear at 192.92
Straight line move-up today means you need to go to shorter time frame charts to find support levels.
USDJPY 30 MINUTE CHART- UNCHARTERED WATERS
USDJPY TRADING TO ANOTHER 34-YEAR HIGH JUST BELOW 154… AS I NOTED ON THE BREAK OF 152, THE NEXT POTENTIAL BOJLINE IN THE SAND WAS 155. THIS SUGGESTS 154-155, SHOULD IT TRADE, WOULD BE A NERVOUS ZONE
NOTE JPY WEAKNESS ON ITS CROSSES GIVING A BOD TO USDJPY.
USDJPY LIKELY KEEPS ITS BID IF IT CAN STAY ABOVE 153.50 (NOT SHOWN ON THIS CHART)
EURUSD 4H
Resistances at 1.06650 & 1.06850
Support at 1.06400 & 1.06200
Before it breaks on either side, and taking into account geopolitical situation right now I am going to stay away from trying to call some larger moves.
Going solely Intraday – right now trying for higher, but need a signal to confirm.
A look at the day ahead in European and global markets from Rae Wee
European shares look set to track Asia’s negative lead on Monday after a weekend dominated by news of escalating tensions in the Middle East and fears of a wider regional conflict.
Morning Bid: Nervy markets await Israel’s response, Fed outlook
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