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USDJPY Monthly
This is NOT a Bitcoin, Nvidia or Gold…this is Yen (not Sparta definitely 😀
Mind you, all time High of Modern times is at 160.360
It is becoming kind of hilarious….a Small correction is like 1000 pips lower, and a decent one…well…how about 2.500 pips .
Trading it on anything bigger than half an hour chart takes some Cojones 😀
EURUSD 15 MIN CHART
It is only a 20 pip range so far, too tight to last. Price action is typical for the start of a quarter, especially this one after a 4 day weekend, as the market re-liquifies.
As the chart shows, 2 red AT lines drawn off the low indicate a shift in risk to the upside that has seen a move up but faces resistance at 1.0744.
Not seen on this chart, the gap in price after the ISM report yesterday is to 1.0772. The key target on the downside remains at 1.0694.
Note while steadying vs the dollar, EUR is trading soft on some of its crosses (e.g. eurgbp, eurcad)
USD 4 HOUR CHART – INTERVENTION THREAT LOOMS BUT…
USDJPY remains within 151-152 with the market wary of pushing the top side too hard.
However, given the overall USD strength and the pop in bond yields, any intervention would likely prove short-lived unless it continues in a sustained way.
With that said, traders will be wary as they do not want to get caught in the first wave should there be intervention.
XAUUSD ONE-HOUR CHART – APRIL FOOLS DAY?XAUUSD’s relentless rise is no joke as it continues to move into uncharted record-high territory. This makes looking for resistance pure guesswork so use the most recent high (2265) as the closest key level.
The two blue AT lines off the high raise a risk of a pause but only one that might be confirmed if XAUUSD moves below 2250.
On the downside, look for support as long as it trades above 2200-20, a stronger bid should 2250 becomes support.
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