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    19th January 2016 Market Outlook

    Aussie Loonie – AUD/CAD rallied into our target at 1.0077 resistance level after price rejected its 0.9845 support level as we expected in our 8th January 2016 Market Outlook. Traders who went long as we recommended may consider taking profits at the 1.0077 resistance level as price could potentially pullback before continue to move higher.

     

     

    AUDCADrDaily

     

    Kiwi Yen – NZD/JPY fell into its 75.06–74.41 support area after price breakout from its 79.84–79.42 support area. Given that the overall trend is still bearish, traders may consider shorting this market if price pullback to resistance level or short at the breakout of 75.06–74.41 support area.

    NZDJPYrDaily

     

    Aussie Yen – We could see AUD/JPY is trying to bounce at the 79.60 support level which could potentially send price back into the 82.97–82.15 resistance area where traders may hunt for potential shorting opportunity to ride on the bearish trend and the 79.60 support level may serve as the first target for traders to take profits.

    AUDJPYrDaily

    Posted on 2016-01-19 06:30:08


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