Weekly Charts

Forex Trading Weekly Charts

USDJPY Weekly Outlook

With the BoJ restoring a two-way risk, expect a choppy range as long as it stays within 155-160. Any move above 158 would raise the intervention risk.

I got this from a Global-View veteran prrofessional trader so I am posting his view as a refernece

We are targeting 149.64 for pure perfection from the double top that finally reached into the zone I had mentioned some months ago. We prefer to sell rally’s not buy dips until we get to target at which point we will likely accumulate fairly aggressively but through several handles lower ie maybe as deep as 144

Japanese CPI due on Friday

GBPUSD Weekly Outlook

Failure to hold 1.30+ has led to a retracement now dependent on holding 1.2898 to keep it ion check.

For FIBO watchers, there are retracement levels for 1.26612-1.304; in the 1.28-1.29 area.

Back above 1.2937-50 would be needed to ease the risk.

Note GBP has been sensitive to economic data… watch flash PMI on Wednesday

USDCAD Weekly

THe focus is on the BoC rate decision on Wednesday where expectations run as high as 80% for a rate cut.

This suggests support on dips ahead of the decision, starting at 1.3707-17.

Targets on the upside can be seen on the chart but 1.3750 and 1.3800 are the pivotal levels on top.

AUDUSD Weekly  Outlook

AUDUSD has struggled since failing to break .6800

Current pattern is 5 down days in a row so watch to see if this is extended.

Back aboce the daily trendline would be needed to ease the retracement risk.

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