Japanese Yen – USD/JPY breakout above the 125.00 resistance level which has now turned into a short term support level which may potentially offer traders some buying opportunities over here. The trend is still up as well and if price pullback to the 125.00 support level (Previous resistance level), it will rejects the up slopping trend line as well which is a good confluences for traders to consider buying into this market.
Euro Yen – EUR/JPY breakout away from its consolidation as well and the 137.76–137.32 resistance area had turned into support area. The short term momentum had turned bullish after price breakout away from the consolidation thus traders may consider buying into this market when price pullback to the support area to ride on the bullish momentum. The next resistance area is not found until 141.07–140.61 resistance level which offer traders decent profit margin to trade the long side.
Euro Aussie – EUR/AUD also breakout higher and we had a new fresh support level below current price where traders may hunt for buying opportunities. The momentum is clearly bullish at the moment thus traders are more likely to get high probability trades to the upside.
Posted on 2015-08-12 06:32:29